Colorado § 44-20-113 - Motor vehicle salesperson's bond.
Full text of Colorado Colorado Revised Statutes § 44-20-113 — Motor vehicle salesperson's bond., with citation guidance and answers to common questions.
§ 44-20-113. Motor vehicle salesperson's bond.
(1) Before a motor vehicle salesperson's license is issued by the board through the executive director to any applicant, 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 corporate surety duly licensed to do business within the state, approved as to form by the attorney general of the state, and conditioned that the applicant must perform in good faith as a motor vehicle salesperson without fraud and without the violation of any provision of this part 1 related to fraud that is designated by the board by rule. A motor vehicle salesperson need not furnish an additional bond, savings account, deposit, or certificate of deposit under this section if the dealer furnishes a bond, savings account, deposit, or certificate of deposit under section 44-20-413.
(2) 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 board or by a court of competent jurisdiction.
(3) 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.
Source: L. 2018: Entire article added with relocations, (SB 18-030), ch. 7, p. 59, § 2, effective October 1. L. 2020: (1) and (2) amended, (SB 20-140), ch. 225, p. 1103, § 2, effective September 14.
Editor's note: This section is similar to former § 12-6-112 as it existed prior to 2018.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 44-20-113
What does Colorado Revised Statutes § 44-20-113 cover?
Section 44-20-113 ("Motor vehicle salesperson's bond.") 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 § 44-20-113?
A common citation format is "Colorado Revised Statutes § 44-20-113" (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 § 44-20-113 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.