Colorado § 42-21-105 - Vehicle value protection agreements - contractual liability insurance policies.
Full text of Colorado Colorado Revised Statutes § 42-21-105 — Vehicle value protection agreements - contractual liability insurance policies., with citation guidance and answers to common questions.
§ 42-21-105. Vehicle value protection agreements - contractual liability insurance policies.
(1) A provider shall guarantee the provider's obligations by an insurance policy, issued by an insurer, that pays the contract holder if the provider fails to perform the obligations in accordance with the vehicle value protection agreement.
(2) To comply with this section, an insurance policy required in subsection (1) of this section must provide that:
(a) If the provider fails to perform its obligations under the vehicle value protection agreement, the contractual liability insurer will pay all covered amounts that the provider is legally obligated to pay according to the agreement; and
(b) The contract holder may file directly with the insurer for reimbursement if the payment due under the terms of the vehicle value protection agreement is not made by the provider within sixty days after proof of loss or trade-in of the covered vehicle has been filed in accordance with the terms of the agreement.
Source: L. 2023: Entire article added, (SB 23-015), ch. 36, p. 130, § 1, effective August 7.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 42-21-105
What does Colorado Revised Statutes § 42-21-105 cover?
Section 42-21-105 ("Vehicle value protection agreements - contractual liability insurance policies.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 42-21-105?
A common citation format is "Colorado Revised Statutes § 42-21-105" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 42-21-105 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.