(a) The owner of an OHV shall notify the Department within 15 days if the OHV is destroyed or abandoned, stolen, sold or an interest therein transferred either wholly or in part to another person or if the owner's address no longer conforms to the address appearing on the registration certificate. The notice shall consist of a surrender of the registration certificate on which the proper information shall be noted or written notice to the Department that the registration certificate has been stolen.
(b) When surrender of the certificate is because the OHV has been destroyed or abandoned or has been stolen, the Department shall cancel the certificate and enter such fact in its records. If the surrender is because of a change of address of the owner, the new address shall be recorded by the Department and a registration certificate bearing such information shall be returned to the owner. The transferee of a vehicle registered under this chapter, within 15 days after acquiring it, shall apply to the Department for transfer to the transferee of the registration certificate issued to the OHV, giving the transferee's name, address and the number of the vehicle and pay the Department a fee of $2.00. Upon receipt of the application and fee, the Department shall transfer the registration certificate issued for the OHV to the new owner. Unless the application is made and the fee paid within 15 days, the vehicle shall be deemed to be without a registration certificate and no person shall operate the OHV until a certificate is issued.