(a) The Department of Natural Resources may suspend or revoke a certificate of title, upon notice and reasonable opportunity to be heard, when authorized by any other provision of law or if he finds:
1. The certificate of title was fraudulently procured or erroneously issued, or
2. The watercraft has been scrapped, dismantled or destroyed.
- (b) Suspension or revocation of a certificate of title does not, in itself, affect the validity of a security interest noted on it.
- (c) When the Department of Natural Resources suspends or revokes a certificate of title, the owner or person in possession of it shall, immediately upon receiving notice of the suspension or revocation, mail or deliver the certificate to the Department.
- (d) The Department of Natural Resources may seize and impound any certificate of title which has been suspended or revoked.
(from Ch. 95 1/2, par. 323B-8)
(Source: P.A. 89-445, eff. 2-7-96.)