You are correct (and - sorry I missed your point) the statutes that applies is 18-12-213-Reciprocity, which says
I understand your point but not underling issue. So I'm an Oregon resident - CO does not accept an OR permit. But I qualify and have a Utah permit - which CO does honor, but since I'm not a resident of Utah, it's not valid. That's my point.
(1) A permit to carry a concealed handgun or a concealed weapon that is issued by a state that recognizes the validity of permits issued pursuant to this part 2 shall be valid in this state in all respects as a permit issued pursuant to this part 2 if the permit is issued to a person who is:
(a) Twenty-one years of age or older; and(b) (I) A resident of the state that issued the permit, as demonstrated by the address stated on a valid picture identification that is issued by the state that issued the permit and is carried by the permit holder; or
(II) A resident of Colorado for no more than ninety days, as determined by the date of issuance on a valid picture identification issued by Colorado and carried by the permit holder.(2) For purposes of this section, a "valid picture identification" means a driver's license or a state identification issued in lieu of a driver's license.