Colorado Manufactured Home Bond
Colorado Manufactured Home Bond Information
There are two surety bond requirements in Colorado for manufactured home businesses. The first is the Manufactured Housing Home Sale Deposit Bond and the bond amount, or coverage, for this bond is typically $50,000. This surety bond is for those engaged in the business of selling manufactured housing in the State of Colorado and may receive manufactured home sale down payments. The Manufactured Housing Home Sale Deposit Bond is required by the Attorney General of the State of Colorado to protect purchasers of manufactured homes for any loss suffered due to violations of state regulations or codes.
The second type of bond required in Colorado for manufactured home businesses is the Installer of Manufactured Homes Bond. This surety bond is typically in a coverage amount of $10,000 and is required by the Division of Housing, a political subdivision of the State of Colorado, for those engaged in the business of installing manufactured housing in the State of Colorado pursuant to the standards adopted by the Colorado State Housing Board and enforced by the Division of Housing. The purpose of this surety bond is to indemnify owners of manufactured homes for any loss suffered by reason of the violation of the conditions or the provisions of § 24-32-3315(2) C.R.S.