(a) Every peace officer of this State, having knowledge of a stolen or converted watercraft or outboard motor, shall immediately furnish the department with full information concerning such theft or conversion.
(b) The department, whenever it receives a report of the theft or conversion of a watercraft or outboard motor, shall make a record thereof, including the make of the stolen or converted watercraft or outboard motor and its manufacturer's or assigned serial number, and shall file the same in the numerical order of the manufacturer's or assigned serial number with the index records of the watercraft or outboard motors of such make. The department shall prepare a report listing watercraft and outboard motors stolen and recovered as disclosed by the reports submitted to it, to be distributed as it deems advisable.
(c) In the event of the recovery of a stolen or converted watercraft or outboard motor, the owner shall immediately notify the department, who shall remove the record of the theft or conversion from its file.