1172                                        LAWS OF MARYLAND                            [Ch. 4

DUE.

(2)    THE TAX IMPOSED BY THIS SUBSECTION IS
IN LIEU OF COLLECTING ANY TAX ON THE SALE OF VESSEL
REQUIRED UNDER §§ 325 OR 373 OF ARTICLE 81 OF THE CODE
UNLESS OTHERWISE "EXEMPT FROM THE TAX.

(3)   NOTWITHSTANDING THE PROVISIONS OF THIS
SUBSECTION, NO TAX IS PAID ON ISSUANCE OF ANY
CERTIFICATE OF TITLE IF THE OWNER OF THE VESSEL FOR
WHICH A CERTIFICATE OF TITLE IS SOUGHT WAS THE OWNER
OF THE VESSEL PRIOR TO JUNE 1, 1965, OR IF HE PAID
MARYLAND SALES TAX ON THE VESSEL AS REQUIRED BY LAW AT
THE TIME OF ACQUISITION. THE DEPARTMENT MAY REQUIRE
THE APPLICANT FOR TITLING TO SUBMIT SATISFACTORY PROOF
THAT HE OWNED THE VESSEL PRIOR TO JUNE 1, 1965.

(C)   WHEN FEE OR TAX NOT REQUIRED TO BE PAID.--A

PERSON IS NOT REQUIRED TO PAY THE TAX PROVIDED FOR IN
SUBSECTION (A) TO OBTAIN A CERTIFICATE OF TITLE
RESULTING FROM:

(1)    A TRANSFER BETWEEN MEMBERS OF THE
IMMEDIATE FAMILY AS DETERMINED BY DEPARTMENT RULES AND
REGULATIONS;

(2)   A TRANSFER BETWEEN LICENSED DEALERS IN
VESSELS FOR RESALE;

(3)   SALE OR TRANSFER OF A VESSEL OR BOAT
NOT REQUIRED TO BE TITLED UNDER THIS SUBTITLE;

(4)    PURCHASE OF A VESSEL BY THE STATE OR
ANY POLITICAL SUBDIVISION; OR

(5)     PURCHASE OF A VESSEL BY AN
ELEEMOSYNARY ORGANIZATION WHICH THE SECRETARY HAS
APPROVED.

(D)   DEPOSIT AND EXPENDITURE OF FUNDS DERIVED
FROM TITLE TAX.— NOTWITHSTANDING THE PROVISIONS OF §
8-724, THE DEPARTMENT DEPOSITS FUNDS FROM THE TITLE
TAX LEVIED UNDER THIS SECTION WITH THE COMPTROLLER OF
THE TREASURY IN THE WATERWAYS IMPROVEMENT FUND TO BE
EXPENDED ONLY FOR THE PURPOSES SPECIFIED.

(E)   OVERPAYMENT OF TITLE TAX.—IF THE DEPARTMENT
DETERMINES THERE HAS BEEN AN OVERPAYMENT OF THE TITLE
TAX ON A VESSEL, OR AN OVERPAYMENT HAS RESULTED FOR
ANY OTHER REASON, IT MAY SUBMIT THE OVERPAYMENT AND