Colorado § 44-20-413 Powersports vehicle salesperson's bond

Colorado Statutes

§ 44-20-413 — Powersports vehicle salesperson's bond

Colorado § 44-20-413

Title 44Revenue -

Art.Sale of Self-propelled Vehicles

This text of Colorado § 44-20-413 (Powersports vehicle salesperson's bond) 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. § 44-20-413 (2026).

Text

(1)To be issued a powersports vehicle salesperson's license, the applicant must procure and file with the board 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 fifteen thousand dollars with a corporate surety duly licensed to do business within the state, approved as to form by the attorney general, and conditioned that the applicant perform in good faith as a powersports vehicle salesperson without fraud and without violating a provision of this part 4 related to fraud or any rule promulgated by the board under this part 4 related to fraud. The board shall implement a psychometrically valid and reliable salesperson exam that measures the minimum level of competence nec

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(1) To be issued a
powersports vehicle salesperson's license, the applicant must procure and file with
the board 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 fifteen thousand dollars with a corporate surety duly licensed to do business
within the state, approved as to form by the attorney general, and conditioned that
the applicant perform in good faith as a powersports vehicle salesperson without
fraud and without violating a provision of this part 4 related to fraud or any rule
promulgated by the board under this part 4 related to fraud. The board shall
implement a psychometrically valid and reliable salesperson exam that measures
the minimum level of competence necessary to practice. A powersports vehicle
salesperson need not furnish an additional bond, savings account, deposit, or
certificate of deposit under this section if the salesperson furnishes a bond, savings
account, deposit, or certificate of deposit under section 44-20-113.

(2) No corporate surety is required to make a payment to any person
claiming under the bond until a final determination of fraud has been made by the
board or by a court of competent jurisdiction.

(3) Bonds required under this section shall be renewed annually when the
bondholder's license is renewed. Bonds may be renewed through a continuation
certificate issued by the surety.

Legislative History

Source: L. 2018: Entire article added with relocations, (SB 18-030), ch. 7, p. 109, � 2, effective October 1. L. 2020: (1) and (2) amended, (SB 20-140), ch. 225, p. 1105, � 6, effective September 14.