(2) An individual who permanently loses the services of a vessel through capsizing, sinking, fire, collision or other catastrophic accident shall remain eligible to obtain a vessel permit for a replacement vessel for two years from the date of loss. [1979 c.613 §16; 1981 c.365 §6; 1985 c.453 §1; 1987 c.912 §8; 1995 c.602 §24; 1999 c.165 §1; 2007 c.768 §9]