February 28, 2007
Volume #1, Issue #9

  DEALER NEWS
     - Ritter Grounded by Amendment 41
     - Learn More About the F&I
       Resource Center

  LEGISLATIVE STATUS REPORTS
     - MVDB Sunset Review

  REGULATORY UPDATES
     - 
Dealer Obligations for Missing
       Full-Use or Demo Plates

  UPCOMING SEMINARS
     - Unclaimed Property Compliance
       Seminar

  CADA CALENDAR OF EVENTS
     - Upcoming Events for 2007


    Click here for Open Road archives.



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CADA's Amendment 41 Compliant Legislative Reception and Birthday Event is next Thursday!  Click here for details...


RITTER GROUNDED BY AMENDMENT 41

Excerpt from the Rocky Mountain News article, "Ban Keeps Ritter Off Flight
(February 23, 2007):

Amendment 41 means no trip to promote state.  Gov. Bill Ritter, the self-avowed "chief marketing officer for Colorado," has been grounded by Amendment 41.

CLICK HERE to read the entire article.

 

* * * * * * *

LEARN MORE ABOUT THE F&I RESOURCE CENTER

Step right in to the CADA F&I Resource Center where valuable opportunities in products, services, training, visibility and much more are available to you today! This month we would like to introduce you to the F&I Center and share what we are all about and what
we can do for you, at a high level.

Going forward, we will be sharing more detailed information on the products and services available to our member dealers.

Remember, CADA F&I Resource Center is here for our dealers today and tomorrow!
For more information, please contact Chad M. Julius, Director F&I Resource Center, Phone 303.319.8039, Fax: 303.831.9100 or via e-mail at chad.julius@cadaonline.org.

  CLICK HERE for more information on this valuable resource.


mvdb sunset review

The legislation that created the Motor Vehicle Dealer Board will sunset this year, without new legislation being enacted to extend its role and purpose.  CADA and
the CAR Legislative Policy Committee have worked for more than a year to determine how best to promote legislation to ensure that dealers have a strong
voice in the process of providing legal and regulatory oversight to the industry.      

  CLICK HERE to read this informative article by CAR lobbyist Jeremy Cottrell.


DEALER OBLIGATIONS FOR MISSING FULL-USE OR DEMO PLATES — RECENT DEALER QUESTION ABOUT WHAT TO DO IF DEALER OR DEMO PLATES ARE MISSING

 

QUESTION: We have a number of full-use and demo plates that are missing; we have made every effort and have been unable to locate them.  What are we supposed to do?  Can we replace them? 

 

ANSWER(S):  There are regulations that address precisely what dealerships need to do
if any full-use or demo plates are missing.  First, any lost, stolen or missing full-use or dealer demo plates need to be reported as such to your local police department.  Then, any full-use plates can be replaced for a $5.00 replacement fee and any demo plates can be replaced for the full fee—as indicated below in the regulation.   

 

You should be sure that if the missing plates ever re-surface that you report them as 'found' to law enforcement and to the Auto Industry Division—or simply return them.
Until then, these plates will still be denoted with a "wanted status" in law enforcement records.

 

It is important to report missing plates; it is the only way law enforcement would be
able to track them down if they are actively being misused.

 

The relevant excerpts from the regulations are below:

 

A lost, stolen, or missing full-use dealer plate shall be reported within two (2) working days to the local law enforcement agency. Lost plates may be replaced through the County Clerk,…upon submission of a police report and the payment of a $5.00 replacement fee. The County Clerk will submit the copy of the police report to the …Auto Industry Division for notation on the appropriate motor vehicle and law enforcement files.

 

A lost, stolen or missing dealer demo plate shall be reported within two (2) working days to the local law enforcement agency, and then to the …Auto Industry Division. The dealer may replace lost plates through the County Clerks…. All lost dealer demo plates shall be replaced upon payment of the full fee. A damaged dealer demo plate may be turned in and replaced for the replacement fee.

 

  CLICK HERE for the full regulations related to full-use and demo plates – excerpted from the Auto Industry Division’s compilation of auto industry laws and regulations. 

 

If you have additional questions on this topic, please contact Tammi McCoy via email at tammi.mccoy@cadaonline.org or by phone at 303.282.1449.  

 


unclaimed property compliance seminar

The Colorado Office of the Treasurer compliance/audit personnel will review Colorado unclaimed Property Laws and Regulations.

  • Colorado Unclaimed Property Act has covered automobile retailers since 1992

  • Avoid embarrassing fines and penalties by taking advantage of this seminar

Businesses in Colorado must take specific steps to return “unclaimed property”:

  • Learn what is covered, what steps you must take, and the annual reporting requirements

  • Covered property must be turned over to the state if not returned to the rightful owner

  • In general, “unclaimed property” includes various types of obligations or liabilities of a business which have been in active or have not been paid after an extended period of time after they are payable.  Examples include

  • Amounts owed to suppliers/vendors

  • Payroll/wage obligations

  • Stale, outstanding checks

  • Overpayments/refunds/rebates

  • Security or other deposits

  • Credit checks or memos

  • Uncollected referral fees

  • Due bills / We Owe Accounts (for parts, service, equipment ordered
    at the time of vehicle sale)

  • Loan collateral

  • Dividends or Interest

  • Matured insurance policy proceeds

   Please CLICK HERE for more information on this seminar.  Register for this seminar by returning the attached registration form or clicking on the respective link below.
 

City

Date / Time*

Location

Northern Colorado

Thursday, March 15

7:30 am to 9:30 am

Johnson’s Corner

2842 SE Frontage Rd (Exit 254 from I-25, Johnstown).  Phone: 970.667.2069

CLICK HERE to register for this location.

Colorado Springs

Thursday, March 22

11:30 am to 1:30 pm

Antlers Hilton, 4 So. Cascade Avenue (Uintah St. exit from northbound I-25; Cimarron exit from southbound I-25).  Phone: 719.955.5600

**NOTE:  CLICK HERE to register directly with Ann Winslow.

Grand Junction

Thursday, April 19

11:30 am to 1:30 pm

Grand Vista Hotel, 2790 Crossroads Blvd.

Phone:  970.254.7100

CLICK HERE to register for this location.

*Breakfast or lunch will be provided.


upcoming events for 2007

 

Event Description

Date / Time

Location

Legislators and Auto Dealers Networking Reception / Tim Jackson Birthday Event

 

Thursday, March 8

5:30 to 8 pm

Monarch Suite —
Denver Hyatt Regency at
Colorado Convention Center

Denver International
Auto Show

 

Wednesday, March 28 - Sunday, April 1

Colorado Convention Center
Click here for more details...

 

Designated Risk
Management Seminar

   - Industry Loss Analysis

Tuesday, April 10

8 am to 4 pm

William D. Barrow Building (CADA/ MDADA headquarters)
290 E. Speer, Denver

CADA Annual Golf Event

Monday, August 27

Noon shotgun start

Valley Country Club

14601 Country Club Dr., Aurora

Regional Member Briefings

   - Fall 2007

Dates to be determined

Location to be determined

MDADA Annual
Membership Meeting

Tuesday, November 27

11 am to 2 pm

Cherry Creek Country Club

(more details to follow soon)

 


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Colorado Automobile Dealers Association
290 East Speer Boulevard Denver, CO  80203
Telephone:  303.831.1722
  |  Facsimile: 303.831.4205
www.cadaonline.org

 

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