The owner of a boat registered in this Commonwealth pursuant to this subchapter or by the Federal Government shall furnish the commission notice of the transfer of all or any part of his interest, other than the creation of a security interest, in a boat or of the destruction or abandonment of the boat within 15 days from the transfer, destruction or abandonment. The transfer, destruction or abandonment shall terminate the certificate of registration for the boat except in the case of a transfer of a part interest which does not affect the right of the owner to operate the boat.
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