(a) If a vessel, snowmobile, or all-terrain vehicle upon which a salvage certificate of title, a parts-only certificate, or other document indicating the vessel, snowmobile, or all-terrain vehicle is not sold for reregistration purposes has been or should have been issued by the Commissioner or by any other jurisdiction or person, or if a vessel, snowmobile, or all-terrain vehicle that has been declared totaled is rebuilt and restored for operation, the owner shall not apply for a certificate of title or registration, and none shall be issued until the vessel, snowmobile, or all-terrain vehicle has been inspected by the Commissioner or his or her authorized representative. The inspection of the vessel, snowmobile, or all-terrain vehicle shall be conducted in the manner prescribed by the Commissioner and shall include verification of the identification number and bills of sale or titles for major component parts used to rebuild the vessel, snowmobile, or all-terrain vehicle. When necessary, a new identification number shall be attached to the vessel, snowmobile, or all-terrain vehicle as provided by section 2003 of this title. Any new title issued for these vessels, snowmobiles, or all-terrain vehicles shall contain the legend "rebuilt."

(b) Any person who sells, trades, or offers for sale or trade to a prospective purchaser any interest in a salvaged, salvaged and rebuilt, or totaled vessel, snowmobile, or all-terrain vehicle shall disclose the fact that the vessel, snowmobile, or all-terrain vehicle has been salvaged, salvaged and rebuilt, or totaled both orally and in writing before a sale, trade, or transfer is made. Written disclosure that the vessel, snowmobile, or all-terrain vehicle has been salvaged, salvaged and rebuilt, or totaled, in addition to being disclosed on the certificate of title as required by this subchapter, shall also be conspicuously disclosed on any bill of sale, transfer, purchase, or other agreement.

(c) Failure of the seller to provide the notices required by this section shall result in the seller being required, at the option of the buyer, to refund to the buyer the purchase price, including taxes, license fees, and similar governmental charges. (Added 2009, No. 39, § 9; amended 2015, No. 50, § 22.)