Colorado § 42-6-111 - Sale to dealers - certificate need not issue.

§ 42-6-111. Sale to dealers - certificate need not issue.

(1) Upon the sale or transfer to a dealer of a motor or off-highway vehicle for which a Colorado certificate of title has been issued, the dealer shall transfer and file the certificate of title to the motor or off-highway vehicle; except that, so long as the vehicle remains in the dealer's possession and at the dealer's place of business for sale and for no other purpose, the dealer need not procure or file a new certificate of title as is otherwise required in this part 1.

(2) If a motor or off-highway vehicle dealer wishes to obtain a new certificate of title, the dealer may present the old certificate of title to the director with the fee imposed by section 42-6-137 (6), whereupon the director shall issue a new certificate of title to the dealer within one working day after application. This subsection (2) does not apply to a motor or off-highway vehicle subject to a lien.

(3) (a) A wholesale motor vehicle auction dealer who does not buy, sell, or own the motor vehicles transferred at auction shall disclose the identity of the wholesale motor vehicle auction dealer, the date of the auction, and the license number of the auction on a form and in a manner prescribed by the executive director. A wholesale motor vehicle auction dealer does not become an owner by reason of such disclosure nor as a result solely of the guarantee of title, guarantee of payment, or reservation of a security interest.

(b) A wholesale motor vehicle auction dealer may buy or sell motor vehicles at wholesale in such dealer's own name and, in such instances, shall comply with the provisions of this part 1 applicable to dealers, including licensing.

Source: L. 94: Entire title amended with relocations, p. 2453, § 1, effective January 1, 1995. L. 2000: (1) and (3)(a) amended, p. 1658, § 6, effective July 1, 2001. L. 2005: Entire section amended, p. 812, § 9, effective August 8. L. 2013: (1) and (2) amended, (SB 13-280), ch. 407, p. 2381, § 8, effective June 5.

Editor's note: This section is similar to former § 42-6-110 as it existed prior to 1994, and the former § 42-6-111 was relocated to § 42-6-113.

ANNOTATION

Annotator's note. Since § 42-6-111 is similar to § 42-6-110 as it existed prior to the 1994 amending of title 42 as enacted by SB 94-1, a relevant case construing that provision has been included with the annotations to this section.

Provisions are regulatory and do not affect property rights. The provisions of the statutes concerning registration of motor vehicles are regulatory measures and nothing therein purports to affect property rights. Waterman v. Colo. Lease & Inv. Co., 130 Colo. 305, 275 P.2d 191 (1954).