{"data":{"id":"us-co/c.r.s.-44-20-413","jurisdiction":"us-co","citation":"C.R.S. § 44-20-413","heading":"Powersports vehicle salesperson's bond.","body":"(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.\n\n(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.\n\n(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.","path":["Title 44 - REVENUE - REGULATION OF ACTIVITIES","Article 20 - Sale of Self-propelled Vehicles","Part 4 - POWERSPORTS VEHICLES"],"source_url":"https://olls.info/crs/crs2026-title-44.htm","current_through":"Colorado Revised Statutes 2026","vintage":"","retrieved_at":"2026-09-14T18:37:45Z","sha256":"fbc2666c7c95c73627c869400f66593b8392af835be8e600b3fea7401cbe6088","source_id":"us-co","stale":false,"prev":"us-co/c.r.s.-44-20-412","next":"us-co/c.r.s.-44-20-414"},"notice":"GroundRules: Original legal text. Not legal advice."}