(1) A vessel owner shall notify the department in writing within five business days after a vessel is or has been: (a) Sold; (b) Given as a gift to another person; (c) Traded, either privately or to a vessel dealer; (d) Donated to charity; (e) Turned over to an insurance company or wrecking yard; or (f) Disposed of. (2) A report of sale is properly filed if it is received by the department within five business days after the date of sale or transfer and it includes: (a) The date of sale or transfer; (b) The owner's name and address; (c) The name and address of the person acquiring the vessel; (d) The vessel hull identification number and vessel registration number; and (e) A date stamp by the department showing it was received on or before the fifth business day after the date of sale or transfer. (3) The department shall: (a) Provide or approve reports of sale forms; (b) Provide a system enabling a vessel owner to submit reports of sale electronically; (c) Immediately update the department's vessel record when a report of sale has been filed; (d) Provide instructions on release of interest forms that allow the seller of a vessel to release their interest in a vessel at the same time a financial institution, as defined in RCW 30A.22.040, releases its lien on the vessel; and (e) Send a report to the department of revenue that lists vessels for which a report of sale has been received but no transfer of ownership has taken place. The department shall send the report once each quarter. [ 2015 c 148 s 1; 2010 c 161 s 1014.]
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