996                              LAWS OF MARYLAND                      [CH. 701

MENT IS AUTHORIZED TO SUBMIT THE OVERPAYMENT
AND SUPPORTING DATA WHETHER ACCOMPANIED BY A
WRITTEN CLAIM OR NOT, TO THE STATE COMPTROLLER
FOR REFUND TO THE PERSON ENTITLED THERETO.

4G.

THE DEPARTMENT SHALL MAINTAIN A RECORD OF ALL
CERTIFICATES OF TITLE ISSUED BY IT.

4H.

EACH CERTIFICATE OF TITLE SHALL CONTAIN SUCH
INFORMATION AND SHALL BE ISSUED IN SUCH FORM AS
THE DEPARTMENT SHALL PRESCRIBE.

4-I.

NO DEALER OR PERSON SHALL PURCHASE OR ACQUIRE
A VESSEL WITHOUT OBTAINING FROM THE SELLER
THEREOF A MANUFACTURER'S OR IMPORTER'S CERTIFI-
CATE.

4J.

EVERY DEALER SHALL MAINTAIN FOR THREE (3)
YEARS A RECORD OF EVERY VESSEL BOUGHT, SOLD OR
EXCHANGED BY HIM, OR RECEIVED BY HIM FOR SALE OR
EXCHANGE, WHICH RECORD SHALL BE OPEN TO INSPEC-
TION BY REPRESENTATIVES OF THE DEPARTMENT DUR-
ING REASONABLE BUSINESS HOURS.

4K.

(A)     IF THE OWNERSHIP OF A VESSEL IS TRANFERRED
BY OPERATION OF LAW, SUCH AS BY INHERITANCE,
ORDER IN BANKRUPTCY, INSOLVENCY, REPLEVIN, OR
EXECUTION SALE, THE TRANSFEREE SHALL WITHIN FIF-
TEEN (15) DAYS AFTER HE HAS ACQUIRED THE RIGHT
TO POSSESSION OF THE VESSEL BY OPERATION OF LAW,
MAIL OR DELIVER TO THE DEPARTMENT SATISFACTORY
PROOF OF SUCH OWNERSHIP AS REQUIRED BY THE DE-
PARTMENT AND HIS APPLICATION FOR A NEW CERTIFI-
CATE OF TITLE AND THE REQUIRED FEE.

(B)     IF A LIENHOLDER REPOSSESSES A VESSEL BY
OPERATION OF LAW AND HOLDS SUCH VESSEL FOR RE-
SALE, HE SHALL SECURE A NEW CERTIFICATE OF TITLE
THERETO BUT HE SHALL NOT BE REQUIRED TO PAY THE
EXCISE TAX PROVIDED IN SECTION 4E (B).

4L.

WHEN A LIEN IS DISCHARGED, THE HOLDER THEREOF
SHALL NOTE THAT FACT ON THE FACT FACE OF THE CER-
TIFICATE OF TITLE OVER HIS SIGNATURE AND WITHIN
FIFTEEN (15) DAYS MAIL OR DELIVER IT TO THE DEPART-
MENT. THE DEPARTMENT SHALL CORRECT ITS RECORDS
AND FORWARD THE CERTIFICATE OF TITLE TO THE
OWNER.