Suspension or revocation of a registration or certificate of title.
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(1) the division or its authorized agent determines that the registration or certificate of title was fraudulently or erroneously issued;
(2) the division or its authorized agent determines that a registered motorboat or sailboat is mechanically unfit or unseaworthy for operation on the waters of this state;
(3) a registered motorboat or sailboat has been dismantled or wrecked so that it loses its character as a vessel;
(4) the division or its authorized agent determines that the required registration or titling fee has not been paid or is not paid upon reasonable notice and demand;
(5) a registration decal or number is knowingly displayed upon a motorboat or sailboat other than the one for which the decal or number was issued;
(6) the division or its authorized agent determines that the owner has committed any offense under this chapter or Title 41, Chapter 1a, Part 5, Titling Requirement, involving the registration or certificate of title of a motorboat, sailboat, or outboard motor; or
(7) the division or authorized agent is so authorized under any other provision of law.