CO SB265

Colorado statutes regulating vehicle dealer franchise agreements apply to all sales, service, and parts agreements currently in effect, regardless of when the agreement was adopted.

Any amendment, modification, or addendum that materially affects the rights, responsibilities, or obligations of contracting parties creates a new sales, service, and parts agreement subject to statutory requirements.

Manufacturers and distributors must file a certified copy of their typical sales, service, and parts agreement with the executive director when applying for a license.

Within 60 days of amending, modifying, or adding an addendum to a sales, service, or parts agreement affecting more than one dealer, licensed manufacturers or distributors must file a certified copy of the updated agreement if it materially alters the contracting parties' rights and obligations.

The act takes effect 90 days after the 2013 legislative session adjourn, unless a referendum petition is filed, in which case voter approval in November 2014 is required.