(1) No bonded title vehicle, homemade vehicle, rebuilt vehicle, reconstructed vehicle, or vehicle assembled from a kit shall be sold in the state of Colorado or issued a Colorado certificate of title unless the seller or owner of such vehicle has had its vehicle identification number inspected and recorded by an inspector on the inspection form approved by the department of revenue.

(2) No bonded title commercial vehicle, homemade commercial vehicle, rebuilt commercial vehicle, reconstructed commercial vehicle, or commercial vehicle assembled from a kit shall be issued a Colorado certificate of title unless an inspector inspects the vehicle identification number and records the number on the inspection form approved by the department of revenue.

(2.5) The department is authorized to perform a vehicle identification number inspection on any motor vehicle subject to this article that the department determines is necessary or convenient in carrying out its duties pursuant to this article and to charge and receive an inspection fee pursuant to section 42-5-204 for such inspection.

(3) The inspections required by this section include a physical inspection of the vehicle or commercial vehicle and a computer check of the state and national compilations of wanted and stolen vehicles or commercial vehicles. If the inspector determines that the vehicle identification number has not been removed, changed, altered, or obliterated and that it is not theidentification number of a wanted or stolen vehicle or commercial vehicle, the inspection form shall be transmitted to the executive director of the department of revenue, who shall then act upon the application for a Colorado certificate of title for such vehicle or commercial vehicle.

(4) If the inspector determines that the vehicle identification number has been removed, changed, altered, or obliterated or if the inspector has good and sufficient reason to believe that the vehicle or commercial vehicle is wanted or was stolen in the state of Colorado or another state, the inspector shall proceed according to the provisions of part 1 of this article.