Section 44-20-408 - Classes of licenses(1) The following classes of licenses are issued under this part 4: (a) A powersports vehicle dealer's license shall permit the licensee to engage in the business of selling, exchanging, leasing, or offering new and used powersports vehicles, which license shall not permit more than two persons named therein as owners of the business of the licensee to act as powersports vehicle salespersons.(b) A used powersports vehicle dealer's license shall permit the licensee to engage in the business of selling, exchanging, leasing, or offering used powersports vehicles only. The license shall also permit a licensee to negotiate for a consumer the sale, exchange, or lease of used and new powersports vehicles not owned by the licensee. Prior to completion of a sale, exchange, or lease of a powersports vehicle not owned by the licensee, the licensee shall disclose in writing to the consumer whether the licensee will receive compensation from the consumer or the owner of the powersports vehicle as a result of the transaction. If the licensee receives compensation from the owner of the powersports vehicle as a result of the transaction, the licensee shall include in the written disclosure the name of the owner from whom the licensee will receive compensation. This license shall not permit more than two persons named therein who shall be owners of the business of the licensee to act as powersports vehicle salespersons.(c) A powersports vehicle salesperson's license permits the licensee to engage in the activities of a powersports vehicle salesperson while employed by a licensed powersports vehicle dealer or used powersports vehicle dealer.(d) A powersports vehicle manufacturer's or distributor's license shall permit the licensee to engage in the activities of a powersports manufacturer or distributor.(e) A powersports vehicle manufacturer representative's license shall permit the licensee to engage in the activities of a powersports vehicle manufacturer representative.(f) A wholesaler's license permits the licensee to engage in the activities of a wholesaler, but does not permit more than two individuals, who must be named in the license and who must be owners or part owners of the business of the licensee, to perform the activities of a wholesaler.(2)(a) A person who is licensed as a motor vehicle salesperson pursuant to part 1 of this article 20 shall be deemed to be licensed as a powersports vehicle salesperson under this part 4.(b) A person who is licensed as a motor vehicle manufacturer or distributor pursuant to part 1 of this article 20 shall be deemed to be licensed as a powersports vehicle manufacturer or distributor under this part 4.(c) A person who is licensed as a motor vehicle manufacturer pursuant to part 1 of this article 20 shall be deemed to be licensed as a powersports vehicle manufacturer under this part 4.Amended by 2019 Ch. 425, § 2, eff. 8/2/2019.Renumbered from C.R.S. § 12-6-508 and amended by 2018 Ch. 7, § 2, eff. 10/1/2018.Amended by 2017 Ch. 395, § 33, eff. 7/1/2017.L. 2018: Entire article added with relocations, (SB 18-030), ch. 7, p. 105, § 2, effective October 1.This section is similar to former § 12-6-508 as it existed prior to 2018.