Colorado Revised Statutes Title 42. Vehicles and Traffic § 42-3-110. Payment of motor vehicle registration fees and specific ownership taxes in installments

(a) The total of the twelve-month registration fee and the twelve-month specific ownership tax for the fleet equals one thousand dollars or more;

(b) The applicant pays one-third of the total amount due for registration and specific ownership tax with the application;

(c) The fleet owner does not owe past due motor vehicle registration fees or specific ownership taxes or outstanding penalties imposed for nonpayment of such fees or taxes;

(d) The owner is not denied the privilege of paying in installments pursuant to paragraph (b) of subsection (3) of this section; and

(e) The fleet owner has a performance bond issued by a surety company authorized to do business in Colorado, a bank letter of credit, or a certificate of deposit in an amount equal to no less than the remaining amount of the annual registration fee and specific ownership tax that will be paid in installments. The performance bond, letter of credit, or certificate of deposit shall be payable to the department if the owner fails to pay the required installments.

(a) The first installment on or before the first day of the fifth month of the registration period; and

(b) The second installment on or before the first day of the ninth month of the registration period.

(3)(a) If a fleet owner fails to pay an installment under this section on or before the date the installment was due, the remaining amount of the unpaid registration fee and specific ownership tax for the fleet is due in full immediately. Such owner shall not operate the vehicles in such fleet on the highways of the state until the owner has paid such amount.

(b) If a fleet owner fails to pay an installment for a motor vehicle under this section within thirty days after the installment was due, the department may deny such owner the privilege of paying registration fees and specific ownership taxes in installments under this section.