R 281.2207 Application for title; dealer transferees.

Rule 7. (1) If a watercraft is currently titled and is transferred to a dealer who holds it for resale, the dealer shall obtain and retain in dealership records an assigned certificate of title from the transferor. The dealer need not apply for a certificate of title in the dealer's name, but upon transfer of the watercraft, shall reassign the existing certificate of title and make application for a new title in the transferee's name as provided in section 6 of the act. (2) If a watercraft is not currently titled and is transferred to a dealer who holds it for resale, the dealer shall, upon transfer of the watercraft, apply for a certificate of title to the watercraft in the transferee's name as provided in section 6 of the act.