J. MILLARD TAWES, Governor                        985

who has an established place of business for the sale, trade and dis-
play of such vessels;

(n) "Ship Lifeboat" means a lifeboat used solely for lifesaving
purposes and does not include dinghies, tenders, speedboats, or other
types of craft carried aboard a vessel and used for other than
lifesaving purposes.

(O) "USE" MEANS WHEN A VESSEL IS UPON THE
WATER.

(P) "CERTIFICATE" MEANS ANY CERTIFICATE OF NUM-
BER, TITLE, PERMIT, OR REGISTRATION ISSUED.

(a) Except as provided in Section 4B, every owner of a vessel

required to be numbered by this State shall make application to the
department for a certificate of title for the vessel.

     (b) Except as provided in Section 4B, the department

issue or renew a certificate of number to any vessel required to be
registered and numbered in this State unless a certificate of title

has been issued by the department to the owner.

(b) No certificate of title is required to be obtained for any

vessel owned by the United States, another State or a political sub-
division thereof, or a foreign county; for a vessel which has a

valid marine document issued by the Bureau of Customs of the

United States Government or any Federal agency successor thereto;

or for a ship's lifeboat.

4B.

(a) A person who, on June 1, 1965, is the owner of a vessel with

a valid certificate of number issued by this State is not required to
file an application for a certificate of title for such vessel unless it

is subject to a security interest on June 1, 1965 or unless and until

he transfers all or any part of his interest in the vessel or creates a

security interest in such vessel or he renews the certificate of number

for such vessel.

4C.

(a) No person acquiring a vessel required to be titled by this

state from any other person shall acquire any right, title, claim or

interest in or to such vessel until such person has has assigned to

him a certificate of title to such vessel, or delivered to him a manu-
facturer's or importer's certificate for it; nor shall any waiver or

estoppel operate in favor of such person against a person having

possession of such certificate of title, or manufacturer's or im-
porter's certificate for such vessel, for a valuable consideration.

4D.

4A.

No person shall sell, assign or transfer a vessel titled by this State
without delivering to the purchaser or transferee a certificate of
title with such assignment thereon as is necessary to show title in
the purchaser or tranferee; nor shall any person purchase or

otherwise acquire a vessel required to be titled by this state without

obtaining a certificate of title for it in his name.