CO SB095

Modernizes Colorado motor vehicle registration statutes to allow electronic certificates of title while requiring paper copies only when either party is located outside Colorado or the purchaser pays entirely with cash.

Eliminates the bond requirement for applicants transferring vehicle titles when the vehicle is 25 years old or older, the applicant has obtained a certified vehicle identification number inspection, and a notarized bill of sale is presented within 24 months of the sale.

Requires applicants without proper title documentation to submit a statement under penalty of perjury detailing how they acquired the vehicle, the title source, and other information the director deems necessary to verify ownership and identify any liens.

Allows the director or authorized agent to maintain evidence of ownership in paper or electronic format and protects the marketability and title security of antique and collector vehicles.

Takes effect August 8, 2012, and applies to all certificate of title applications made on or after the effective date.