C.R.S. § 42-4-2202

(1) No person who is not a licensed motor vehicle dealer shall purchase or otherwise receive a motor vehicle to recycle the vehicle, unless: (a) The seller or transferor is the owner on the certificate of title, an operator, or a licensed motor vehicle dealer; (b) The seller or transferor provides a completed bill of sale on a form prescribed by the department of revenue; or (c) The receiver or purchaser complies with subsection (2) of this section. (2) Intentionally left blank —Ed. (a) A person other than a licensed motor vehicle dealer who purchases or otherwise receives a motor vehicle for the purpose of recycling the vehicle shall keep the vehicle for seven business days before recycling unless the seller or transferor: (I) Is the owner on the certificate of title, an operator, or a licensed motor vehicle dealer; or (II) If the purchaser or transferee is an operator selling an abandoned motor vehicle pursuant to part 18 or 21 of this article or a licensed motor vehicle dealer or used motor vehicle dealer, provides a completed bill of sale on a form prescribed by the department of revenue. (b) During the seven-day waiting period: (I) The motor vehicle, the bill of sale, a copy of the system inquiry results, and, if applicable, the daily record required pursuant to section 42-5-105 shall be open at all times during regular business hours to inspection by the department of revenue or any peace officer; and (II) The receiver or purchaser shall submit the vehicle identification number to the system. (3) Any person who violates this section commits a petty offense.