The registration of an all-terrain vehicle ends when the owner transfers title to another person. The former owner shall immediately return to the Commissioner the registration certificate and plate previously assigned to the transferred all-terrain vehicle with the date of sale, name, and residence of the new owner endorsed on the back of the certificate. When a person transfers the ownership of a registered all-terrain vehicle to another person, files a new application and pays a fee of $12.00, he or she may have registered in his or her name another all-terrain vehicle for the remainder of the registration year without payment of any additional registration fee. (Added 1983, No. 240 (Adj. Sess.), § 1; amended 1995, No. 120 (Adj. Sess.), § 5; 2015, No. 159 (Adj. Sess.), § 51.)