Sec. 7.
If a documented vessel is sold pursuant to this act, the facility owner shall satisfy the United States coast guard requirements for passage of title by operation of state law under 46 C.F.R. 67.91 that include providing all of the following:
(a) A copy of this act.
(b) An affidavit from the facility owner setting forth the grounds for selling the property and the steps taken to comply with this act.
(c) Evidence of substantial compliance with this act.
(d) A bill of sale in recordable form from the facility owner as agent for the property owner.
History: 1998, Act 362, Imd. Eff. Oct. 20, 1998