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.
 

*Breakfast or lunch will be provided.

upcoming events for 2007