1 Colo. Code Regs. § 205-2, Regulation 44-20-408(1)(b)
Current through Register Vol. 47, No. 22, November 25, 2024
Regulation Regulation 44-20-408(1)(b) - COMPENSATION DISCLOSURES1. When, on behalf of a consumer, a used powersports vehicle dealer negotiates the sale, exchange, or lease of a used or new powersports vehicle that the negotiating dealer does not own, the negotiating dealer: a. shall, prior to the completion of the sale, exchange, or lease of a powersports vehicle, provide to the consumer for his or her review and signature the original copy of a "Compensation Disclosures" document that must include all of the information on the example form, below, but may include additional information; and, b. shall retain the original of the completed and fully-executed "Compensation Disclosures" document in its records related to the subject vehicle, and shall also provide a copy of that document to the consumer. 2. The current owner of a vehicle covered by this regulation shall not be a wholesaler.3. The "Compensation Disclosures" form, below, is an example format which a negotiating dealer may use to provide the required information to satisfy the disclosure requirements. Click to view image
1 CCR 205-2, Regulation 44-20-408(1)(b)
43 CR 24, December 25, 2020, effective 11/17/202044 CR 24, December 25, 2021, effective 1/14/202245 CR 03, February 10, 2022, effective 3/17/202245 CR 14, July 25, 2022, effective 8/15/2022