Motor vehicle and powersport salespeople are required to have a surety bond in the amount of?

In Colorado, the statutory requirement for motor vehicle and powersport salespeople is to secure a surety bond in the amount of $15,000. A surety bond serves as a form of protective insurance for consumers, ensuring that the salesperson adheres to laws and regulations governing vehicle sales. If a salesperson fails to comply, consumers can file a claim against the bond for compensation.

The correct amount reflects the state's standards established to safeguard public interests and maintain trust in the sales industry. Understanding these requirements helps salespeople remain compliant and fosters a responsible business environment. The other amounts listed are not aligned with the state mandates for this specific type of license.