1692                                       LAWS OF MARYLAND                                 Ch. 826

PENALTIES OF PERJURY, THAT THE STATEMENTS MADE ARE TRUE
AND CORRECT TO THE BEST OF MY/OUR KNOWLEDGE,
INFORMATION AND BELIEF. Every application for a certificate of title shall
contain the date and gross price of the vessel or the fair market value if no sale
immediately preceded the transfer, and any such further information as may be
required by the Department.

(b) If a dealer buys or acquires a used MARYLAND NUMBERED vessel for the
purpose of resale, he shall within fifteen (15) days [apply for a new certificate of title
in his name.] REPORT SUCH ACQUISITION TO THE DEPARTMENT ON
FORMS PROVIDED BY THE DEPARTMENT, OR SAID DEALER MAY IN
HIS DISCRETION APPLY FOR AND OBTAIN A CERTIFICATE OF TITLE
IN ACCORDANCE WITH THIS ARTICLE. IF A DEALER BUYS OR
ACQUIRES A USED NON-MARYLAND NUMBERED VESSEL FOR THE
PURPOSE OF RESALE, HE SHALL WITHIN 15 DAYS APPLY FOR A
CERTIFICATE OF TITLE IN HIS NAME. No title tax is [owed] DUE on [this]
THESE [transaction] TRANSACTIONS.

(C) IF A DEALER BUYS OR ACQUIRES A NEW VESSEL FOR THE
PURPOSE OF RESALE, HE MAY APPLY FOR A CERTIFICATE OF TITLE
IN HIS NAME. THERE IS NO TITLE TAX ON THIS TRANSACTION.

[(c)]. (D) In the event application for certificate of title is made for a vessel last
previously registered or titled in another state or foreign country, the application shall
contain or be accompanied by any information or documents required by the
Department.

(E) EVERY DEALER TRANSFERRING A VESSEL REQUIRED TO BE
TITLED UNDER THIS ARTICLE SHALL ASSIGN THE TITLE OR IF A
NEW VESSEL THE CERTIFICATE OF ORIGIN, TO THE NEW OWNER
AND WITHIN 15 DAYS OF THE TRANSFER SHALL FORWARD ALL
MONIES AND APPLICATIONS TO THE DEPARTMENT THAT HAVE
BEEN RECEIVED FROM THE NEW OWNER FOR REGISTRATION AND/
OR TITLE FEES OR TAX.

4E.

[[(a) A fee of two dollars ( $2.00) shall be charged by the Department for every
certificate of title issued by it, including a transfer of title, and a fee of two dollars ( $
2.00) shall be charged for every duplicate and/or corrected certificate of title issued by
the Department. Such fees shall accompany each application.]]

(b) Except as provided [[[]]in Section 4B, in Section 4D(B) and in subsection (c) of
this section[[]]] [[ELSEWHERE IN THIS ARTICLE]], and in addition to the fees
prescribed in subsection (a) of this section, a tax is hereby levied on the issuance of
every original certificate of title required under this article for a vessel and on the
issuance of every subsequent certificate of title for the sale, resale or transfer of the
vessel.

1.  The Department shall be paid a tax by the applicant for a certificate of title [[
EITHER]] at the rate of (I)[[three]] FOUR per centum[[(3% )]] (4% ) of the gross
sales price, or [[[]]]if no sale immediately precedes the application for title,[[]]] (II)
the fair market value of the vessel for which a certificate of title is applied for and
issued [[]]]. [[]]][[, WHICHEVER IS GREATER AS DETERMINED BY
THE DEPARTMENT.]] The Department may require the submission to it of
proof satisfactory to it in order to establish the tax due.

2.  The tax imposed by this section shall accompany all applications for certificates
of title issued on and after July 1, 1965, and shall be in lieu of the collection of any tax
on the sale of vessel required under Sections 325 or 373 of Article 81 of this Code, as
amended from time to time unless otherwise exempt from the tax.

3.  Notwithstanding the provisions of this subsection, no tax shall be paid on the
issuance of any certificate of title where the owner of the vessel for which a certificate