|
3176
LAWS OF MARYLAND
Ch. 828
8-714.
(A) IF A LICENSED DEALER OR MANUFACTURER OWNS A VESSEL
MAINLY USED IN THE DEALER'S OR MANUFACTURER'S BUSINESS AND HELD
FOR SALE AND THAT OTHERWISE IS REQUIRED TO BE NUMBERED UNDER THIS
TITLE, THE DEALER OR MANUFACTURER MAY APPLY TO THE DEPARTMENT FOR
THE ISSUANCE OF AS MANY DEALER'S OR MANUFACTURER'S CERTIFICATES
OF NUMBER AS ARE REQUIRED FOR THE NORMAL OPERATION OF BUSINESS
AND AS THE DEPARTMENT AUTHORIZES. A BROKER LICENSED AS A DEALER
MAY NOT OBTAIN MANUFACTURER'S OR DEALER'S CERTIFICATES.
(B) Numbers displayed by authority of manufacturer's or
dealer's certificates of number may be transferred from one
vessel to another vessel owned by the manufacturer or dealer and
may be affixed in a temporary manner. These numbers shall be used
only on vessels demonstrated, tested, or owned by the
manufacturer or dealer, and these numbers are not valid for use
on the vessels when chartered, rented, or leased by the
manufacturer or dealer.
(C) EACH APPLICATION FOR THE MANUFACTURER'S OR DEALER'S
CERTIFICATES OF NUMBER SHALL BE ON FORMS THE DEPARTMENT APPROVES
AND BE ACCOMPANIED BY AN ANNUAL FEE OF $12. THE CERTIFICATE OF
NUMBER ISSUED UNDER THIS SECTION EXPIRES DECEMBER 31 OF EACH YEAR
IT IS ISSUED.
8-716.
(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANING INDICATED.
(2) "FAIR MARKET VALUE" MEANS:
(I) AS TO THE SALE OF ANY VESSEL BY A LICENSED
DEALER, THE TOTAL PURCHASE PRICE, AS CERTIFIED BY THE DEALER;
(II) AS TO ANY OTHER VESSEL THAT IS SOLD BY ANY
PERSON OTHER THAN A LICENSED DEALER, THE GREATER OF:
1. THE TOTAL PURCHASE PRICE; OR
2. $100;
(III) AS TO ANY OTHER VESSEL THAT IS SOLD BY
ANY PERSON OTHER THAN A LICENSED DEALER, EITHER:
1. THE TOTAL PURCHASE PRICE, IF VERIFIED
BY MEANS OF A CERTIFIED BILL OF SALE APPROVED BY THE DEPARTMENT,
IN WHICH THE ACTUAL PRICE PAID FOR THE VESSEL IS STATED; OR
2. THE VALUATION SHOWN IN A NATIONAL
PUBLICATION. OF USED VESSEL VALUES ADOPTED BY THE DEPARTMENT IF A
NOTARIZED CERTIFIED BILL OF SALE DOES NOT ACCOMPANY THE
APPLICATION.
|
