SB 15-266 Summary

• Amends Colorado law to clarify that the 30-day deadline for motor vehicle dealers to deliver certificates of title does not include time periods when dealers are waiting for title receipt from another person or entity.

• Applies the exception to both Colorado-issued vehicle titles and titles issued in other states, provided all liens and chattel mortgages have been satisfied and customary documents have been timely submitted to entities holding or facilitating title delivery.

• Requires dealers delivering or facilitating delivery of certificates of title to provide purchasers with a statement made under penalties of perjury in the second degree containing specified information.

• Takes effect at 12:01 a.m. on August 5, 2015, or 90 days after final adjournment of the general assembly, unless a referendum petition is filed, in which case approval by voters at the November 2016 general election is required.