Was not my intention to get into a boxing match with you. Just to point out that without knowing all the laws of every town in this country, its tough to make a blanket statement.
Nevertheless, have a look at the Colorado Springs, CO municipal code.
http://66.113.195.234/CO/Colorado%20Springs/index.htm
In particular, 7.4.406: SPECIFIC SIGN CATEGORIES AND STANDARDS:
(the nomenclature is 7.4.406 means Chapter 7, Article 4, Part 4, section 06)
Section J appears to cover this sort of sign:
J.Temporary Signs: Temporary signs shall meet the following requirements for each type of sign. Signs that fall under this category include, but are not limited to, construction signs, real estate signs, model complex signs, political signs, garage sale signs, banners, off premises open house signs, off premises development directory signs, temporary window signs and signs for temporary uses involving retail sales.
1. Real Estate, Construction, Political/Election Signs:
a. Residential Zones: Residentially zoned lots or parcels:
(1) Less than one acre: Five (5) signs per street frontage not to exceed six (6) square feet per sign.
(2) One to five (5) acres: Five (5) signs per street frontage not to exceed six (6) square feet per sign and one sign per street frontage not to exceed thirty two (32) square feet per sign.
(3) Five (5) to ten (10) acres: Five (5) signs per street frontage not to exceed six (6) square feet per sign, and two (2) signs not to exceed thirty two (32) square feet per sign or one sign not to exceed sixty four (64) square feet.
(4) Greater than ten (10) acres: Five (5) signs per street frontage not to exceed six (6) square feet per sign, and three (3) signs not to exceed thirty two (32) square feet per sign or two (2) signs not to exceed forty eight (48) square feet per sign or one sign not to exceed ninety six (96) square feet.
b. Other Zones: All other zoned lots or parcels:
(1) Less than one acre: Five (5) signs per street frontage not to exceed six (6) square feet per sign, and one sign per street frontage not to exceed thirty two (32) square feet per sign.
(2) One to five (5) acres: Five (5) signs per street frontage not to exceed six (6) square feet per sign, and one sign per street frontage not to exceed sixty four (64) square feet per sign.
(3) Five (5) to ten (10) acres: Five (5) signs per street frontage not to exceed six (6) square feet per sign, and two (2) signs not to exceed sixty four (64) square feet per sign or one sign not to exceed one hundred twenty eight (128) square feet.
(4) Greater than ten (10) acres: Five (5) signs per street frontage not to exceed six (6) square feet per sign, and three (3) signs not to exceed sixty four (64) square feet per sign or two (2) signs not to exceed one hundred twenty eight (128) square feet per sign.
c. Removal:
(1) Real estate signs are to be removed fourteen (14) days after sale, lease or removal of the property from the market.
(2) Construction signs are to be removed within fourteen (14) days after the issuance of a certificate of occupancy or final building inspection.
(3) Political/election signs are to be removed within fourteen (14) days after the election to which they pertain.
d. Placement:
(1) Landowner permission is required before a temporary sign may be placed on, or within the right of way in front of private, or publicly owned, property in accord with subsection 7.4.405B 1 of this part.
(2) Signs may not be placed within City owned right of way unless a revocable permit has been approved in accord with subsection 3.2.218D of this Code. Signs may not be placed within State roadway right of way without the expressed approval of the Colorado Department of Transportation (CDOT).
(3) Signs shall be located in a manner that maintains the corner visibility as required by subsection 7.4.405F of this part.
(4) Signs shall be fastened to a post(s) that is securely imbedded into the ground. No A-frame signs or signs attached to City infrastructure, facilities, poles or signposts are permitted.
(5) Signs shall be placed in a manner that allows for a minimum two foot (2') clearance from the street and/or public sidewalk.
Notice that in d(2), it specifically addresses placement in city owned right of way, and refers to section 3.2.218D. There is no section 3.2.218D, but there is a 3.2.217D that seems relevant:
D.Revocable Permits:
1. Signs And Signposts Prohibited On Public Ways: It shall be unlawful for any person to place upon or construct upon any sidewalk, street, alley or other public way or upon any natural watercourse or improved drainway any sign or signpost except under the terms of a revocable permit as provided in this article. The Code Enforcement Administrator or a designated representative shall be authorized to remove and dispose of any unauthorized sign or signpost without notification to the owner.
2. Exceptions: The provision of subsection D1 of this section shall not apply to any sign or signpost between the hours of one minute after twelve o'clock (12:01) P.M. on Friday through twelve o'clock (12:00) noon on Monday, provided that it is not placed upon any median, park property, utilities easement or pole, but is placed within the public right of way and meets the following minimum standards:
a. The sign does not exceed six (6) square feet in area;
b. The sign is not placed within the downtown core as defined in subsection 7.4.406I6 of this Code; and
c.The sign is not placed in the right of way adjacent to any residentially zoned property, unless express permission is granted by the property owner. (1980 Code; Ord. 94-80; Ord. 98-185; Ord. 01-42; Ord. 03-42; Ord. 03-187; Ord. 07-31)
So, I'm no lawyer, and I've not even bothered to call Colorado Springs code enforcement and discuss the matter. I don't live there and I don't use bandit signs. I had only heard of this because another member here pointed this out. But this sure looks to me like it allows for these signs from noon on Friday until noon on Monday, and allows them in public right of way, with permission from the adjacent owner.
Nor have I attempted to track down any Colorado law that limits these signs. Note, however, that 7.4.406 J d (2) does mention that these are not allowed on state rights of way without express permission from CDOT. That would seem to imply the state does not regulate placement of signs except for state roads.