Regarding customer deposits, what must dealers do in Colorado?

In Colorado, when it comes to customer deposits, dealers are required to hold these funds in trust until the sale is finalized. This requirement is in place to ensure that customer deposits are safeguarded and not misused or allocated to business expenses until the associated transaction is completed. By holding the deposits in trust, dealers demonstrate their commitment to ethical practices and protect the interests of the consumer. This approach fosters trust and transparency in the dealer-customer relationship, as customers can feel secure knowing their funds are managed appropriately until the terms of the sale are fulfilled.