I. If a certificate of title is lost, stolen, mutilated or destroyed or becomes illegible, the first lienholder or, if none, the owner or legal representative of the owner named in the certificate, as shown by the records of the department, or dealer who has purchased the vehicle, shall promptly make application for and may obtain a duplicate upon furnishing information satisfactory to the director. II. The department shall not issue a new certificate of title to a transferee or dealer upon application made on a duplicate until 15 days after receipt of the application. III. A person recovering an original certificate of title for which a duplicate has been issued shall promptly surrender the original certificate to the department.
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