Colorado § 44-20-413 - Powersports vehicle salesperson's bond.
Full text of Colorado Colorado Revised Statutes § 44-20-413 — Powersports vehicle salesperson's bond., with citation guidance and answers to common questions.
§ 44-20-413. Powersports vehicle salesperson's bond.
(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.
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.
Editor's note: This section is similar to former § 12-6-513 as it existed prior to 2018.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 44-20-413
What does Colorado Revised Statutes § 44-20-413 cover?
Section 44-20-413 ("Powersports 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 § 44-20-413?
A common citation format is "Colorado Revised Statutes § 44-20-413" (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 § 44-20-413 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.