MARVIN MANDEL, Governor                                 1171

amended by Chapter 826, H.B. 989, Acts of
1973.

(H) DEPARTMENT RECORD OF TITLE CERTIFICATES. -
THE DEPARTMENT SHALL MAINTAIN A RECORD OF ANY
CERTIFICATE OF TITLE IT ISSUES.

REVISOR'S NOTE: This section presently appears as
Article 14B, section 4G of the Code. The
only changes made are in style.

(I) PROHIBITIONS. - NO PERSON MAY SELL, ASSIGN,
OR TRANSFER A VESSEL TITLED BY THE STATE WITHOUT
DELIVERING TO THE PURCHASER OR TRANSFEREE A
CERTIFICATE OF TITLE WITH AN ASSIGNMENT ON IT SHOWING
TITLE IN THE PURCHASER OR TRANSFEREE. NO PERSON MAY
PURCHASE OR OTHERWISE ACQUIRE A VESSEL REQUIRED TO BE
TITLED BY THE STATE WITHOUT OBTAINING A CERTIFICATE OF
TITLE FOR IT IN HIS NAME.

REVISOR'S NOTE: This subsection is new language
derived from Article 14B, section 4C of the
Code.

8-716. CERTIFICATE OF TITLE FEES AND TITLE TAX.

(A) FEE FOR ISSUANCE OF ORIGINAL AND DUPLICATE
CERTIFICATE.—THE DEPARTMENT SHALL CHARGE A $2 FEE TO
ISSUE A CERTIFICATE OF TITLE, A TRANSFER OF TITLE, A
DUPLICATE, OR A CORRECTED CERTIFICATE OF TITLE.

(E) LEVY OF TITLE TAX; AMOUNT; IN LIEU OF SALES
TAX OR USE TAX; OWNERS PRIOR TO JUNE 1, 1965,
EXEMPT.—EXCEPT AS PROVIDED IN SUBSECTION (D) OF §
8-715 AND IN SUBSECTION (C) OF THIS SECTION, AND IN
ADDITION TO THE FEES PRESCRIBED IN SUBSECTION (A) OF
THIS SECTION, A TITLE TAX IS LEVIED ON THE ISSUANCE OF
EVERY ORIGINAL CERTIFICATE OF TITLE REQUIRED FOR A
VESSEL UNDER THIS SUBTITLE, AND ON THE ISSUANCE OF
EVERY SUBSEQUENT CERTIFICATE OF TITLE FOR THE SALE,
RESALE, OR TRANSFER OF THE VESSEL AS FOLLOWS:

(1) THE APPLICANT FOR A CERTIFICATE OF
TITLE SHALL PAY THE DEPARTMENT A TAX AT THE RATE OF
FOUR PERCENT OF THE GROSS SALES PRICE, OR IF NO SALE
IMMEDIATELY PRECEDES THE APPLICATION FOR TITLE, THE
FAIR MARKET VALUE OF THE VESSEL FOR WHICH A
CERTIFICATE OF TITLE IS APPLIED FOR AND ISSUED. THE
DEPARTMENT MAY REQUIRE THE APPLICANT TO SUBMIT
SATISFACTORY PROOF OF THE VESSEL'S GROSS SALES PRICE
OR FAIR MARKET VALUE IN ORDER TO ESTABLISH THE TAX