Which statement is true regarding the residency requirement for a notary public in Colorado?

An applicant must be a resident of Colorado to serve as a notary public in the state. This requirement is in place to ensure that notaries have a connection to the state they are serving and are familiar with its laws and regulations. Being a resident signifies that the notary is subject to Colorado's jurisdiction and can effectively carry out their duties within the state.

The other choices, while they present alternative scenarios, do not align with Colorado's legal requirements. For instance, applicants residing in any state cannot perform notarial functions within Colorado, ensuring that notaries are locally aware of the state’s specific procedures. Similarly, the assertion that residency is not necessary for notarization overlooks the essential legal framework that binds notaries to their state of residence. Lastly, stating that applicants must live in Colorado for at least one year is not accurate, as the residency requirement does not stipulate any specific duration of time as long as the applicant is a resident.