(a) Except as provided in subsections (b) and (e), any owner of a vessel principally used on the waters of this state shall apply to the department for a certificate of title for the vessel.
(b) A certificate of title shall not be required under this chapter for any vessel that is:
(1) A ship's lifeboat; or
(2) A non-motorized inflatable vessel, surfboard, racing shell, rowing scull, or tender for direct transportation between a vessel and the shore, where the vessel is used solely for direct transportation between a vessel and the shore; or
(3) A documented vessel or vessels fourteen feet (14′) or less.
(c) Each certificate of title shall contain the title number, the name of the vessel manufacturer, model year, hull identification number, the registration number, hull material, propulsion, fuel type, use of vessel length, audit number, as well as name and address of the registered owner, date of issue of the certificate of title, first lien holder, if any, date and amount of lien, second lien holder, if any, date and amount of lien, and any evidence of first and second lien satisfaction with signature and title of agent, as well as notary public seal and any other information as required by the director. Certificates of title shall be issued on forms prescribed by the department.
(d) The department may not issue or renew a certificate of number to any vessel required to be registered and numbered in this state, unless the owner of the vessel has a valid certificate of title.
(e) A person who, on January 1, 1989, is the owner of a vessel with a valid certificate of number issued by this state is not required to file an application for a certificate of title for the vessel until he or she transfers any part of his or her interest in the vessel or renews the certificate of number for the vessel.
(f) Every owner of a vessel subject to titling under the provisions of this chapter shall apply to the department for the issuance of a certificate of title for the vessel within thirty (30) days after taking possession of a vessel. The application shall be on forms the department prescribes, and be accompanied by the required fee. The application shall be signed and sworn to before a notary public and contain a certification signed in writing, representing that statements made on the application are true and correct to the best of the applicant's knowledge, information, and belief, under penalty of perjury. The application shall contain the date of sale and gross purchase price of the vessel or the fair market value, if no sale immediately proceeded the transfer, and any additional information the department requires. If the application is made for a vessel last previously registered or titled in another state or foreign country, the application shall contain the information set forth above and any other the department may require.
(g) If a dealer buys or acquires a used numbered vessel for resale, he or she shall report the acquisition to the department on forms the department provides, or he or she may apply for and obtain a certificate of title as provided in this chapter. If a dealer buys or acquires a used unnumbered vessel, he or she shall apply for a certificate of title in his or her name within fifteen (15) days. If a dealer buys or acquires a new vessel for resale, he or she may apply for a certificate of title in his or her name, but is not required to do so.
(h) Every dealer transferring a vessel requiring titling under this chapter shall assign the title to the new owner if the dealer is required under subsection (g) to obtain a title, or, in the case of a new vessel, assign the manufacturer's statement of origin. In the event the dealer accepts an application for title certificate and accompanying fee from the purchaser of a vessel, the dealer shall forward the required fee and application to the department within fifteen (15) days of the receipt of the application and fee.
(i) The department shall maintain a record of any certificate of title it issued.
(j) No person may sell, assign, or transfer a vessel titled by the state without delivering to the purchaser or transferee a certificate of title with an assignment on it showing title in the purchaser or transferee. No person may purchase or otherwise acquire a vessel required to be titled by the state without obtaining a certificate of title for it in his or her name.
History of Section.
P.L. 1988, ch. 555, § 1; P.L. 1992, ch. 133, art. 16, § 3.