What must be done if a dealer demo plate is lost or stolen?

Study for the Colorado Motor Vehicle Dealer Board Exam. Enhance knowledge with quiz questions that come with hints and explanations. Prepare confidently for your dealer board exam!

When a dealer demo plate is lost or stolen, it is essential to report the incident within 2 working days. This prompt reporting is crucial as it helps prevent unauthorized use of the plate and ensures that the dealer remains compliant with regulations governing vehicle registration and dealer operations.

By alerting the authorities promptly, the dealer can help mitigate potential issues, such as the misuse of the demo plate for unlawful purposes, and protect themselves from liability. Not reporting it in a timely manner can lead to complications, including fines or penalties.

The requirement for reporting within a specific timeframe emphasizes the importance of accountability and security in dealership operations. Timely action not only safeguards the dealer's interests but also upholds the integrity of the motor vehicle registration system.

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