(a) Any demolisher who purchases or otherwise acquires a vehicle for purposes of wrecking, dismantling, or demolition shall not be required to obtain a certificate of title for such vehicle in his own name. After the vehicle has been demolished, processed, or changed so that it physically is no longer a motor vehicle, the demolisher shall surrender for cancellation the certificate of title or auction sales receipt or disposal authority certificate. The department shall issue such forms, rules, and regulations governing the surrender of auction sales receipts, disposal authority certificates, and certificates of title as are appropriate.
(b) A demolisher shall keep an accurate and complete record of all abandoned motor vehicles purchased or received by him in the course of his business. These records shall contain the name and address of the person from whom each vehicle was purchased or received and the date when such purchases or receipts occurred. The records shall be open for inspection by any police officer at any time during normal business hours. Any record required by this section shall be kept by the demolisher for at least one year after the transaction to which it applies.