2023 Colorado Revised Statutes
Title 44 - REVENUE - REGULATION OF ACTIVITIES (§§ 44-1-101 — 44-50-1001)
AUTOMOBILES (§§ 44-20-101 — 44-20-440)
Article 20 - SALE OF SELF-PROPELLED VEHICLES (§§ 44-20-101 — 44-20-440)
Part 1 - MOTOR VEHICLE DEALERS (§§ 44-20-101 — 44-20-142)
Section 44-20-114 - Buyer agent bonds

Universal Citation:
CO Rev Stat § 44-20-114 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

  • (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.

Amended by 2020 Ch. 225,§ 3, eff. 9/14/2020.

Renumbered from C.R.S. § 12-6-112.2 and amended by 2018 Ch. 7,§ 2, eff. 10/1/2018.

L. 2018: Entire article added with relocations, (SB 18-030), ch. 7, p. 59, § 2, effective October 1.

This section is similar to former § 12-6-112.2 as it existed prior to 2018.


Disclaimer: These codes may not be the most recent version. Colorado may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.