Colorado § 44-20-114 Buyer agent bonds

Colorado Statutes

§ 44-20-114 — Buyer agent bonds

Colorado § 44-20-114

Title 44Revenue -

Art.Sale of Self-propelled Vehicles

This text of Colorado § 44-20-114 (Buyer agent bonds) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 44-20-114 (2026).

Text

(1)To be issued a buyer agent's license, an applicant must procure and file with the executive director evidence of a savings account, deposit, or certificate of deposit meeting the requirements of section 11-35-101 or a good and sufficient bond in the amount of five thousand dollars with a corporate surety duly licensed to do business within the state and approved as to form by the attorney general. The bond shall be available to ensure that the applicant shall perform in good faith as a buyer agent without fraud and without violating any provision of this part 1 related to fraud that is designated by the executive director by rule.

(2)All bonds required pursuant to this section shall be renewed annually at such time as the bondholder's license is renewed. The renewal may be do

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(1) To be issued a buyer agent's license, an
applicant must procure and file with the executive director evidence of a savings
account, deposit, or certificate of deposit meeting the requirements of section 11-35-101 or a good and sufficient bond in the amount of five thousand dollars with a
corporate surety duly licensed to do business within the state and approved as to
form by the attorney general. The bond shall be available to ensure that the
applicant shall perform in good faith as a buyer agent without fraud and without
violating any provision of this part 1 related to fraud that is designated by the
executive director by rule.

(2) All bonds required pursuant to this section shall be renewed annually at
such time as the bondholder's license is renewed. The renewal may be done
through a continuation certificate issued by the surety.

(3) No corporate surety shall be required to make any payment to any person
claiming under the bond until a final determination of fraud has been made by the
executive director or by a court of competent jurisdiction.

Legislative History

Source: L. 2018: Entire article added with relocations, (SB 18-030), ch. 7, p. 59, � 2, effective October 1. L. 2020: (1) and (3) amended, (SB 20-140), ch. 225, p. 1103, � 3, effective September 14.