Colorado Code § 44-20-428

Reimbursement for disapproving sale
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A manufacturer or distributor shall
pay reasonable attorney fees, not to exceed the usual and customary fees charged for the transfer
of a franchise, and reasonable expenses that are incurred by the proposed owner or transferee
before the manufacturer or distributor exercised its right of first refusal in negotiating and
implementing the contract for the proposed change of ownership or the transfer of assets.
Payment of attorney fees and expenses is not required if the claimant has failed to submit an
accounting of attorney fees and expenses within twenty days after the receipt of the
manufacturer's or dealer's written request for an accounting. An expense accounting may be
requested by the manufacturer or distributor before exercising its right of first refusal.

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