(a) It shall be unlawful for a person or other entity to have in his, her, or its possession boating equipment with a boating identification number that has been mutilated to the extent that it cannot be read.
(b) If a piece of boating equipment has been stolen and recovered with a mutilated boating identification number, then a court of competent jurisdiction shall:
(1) Authorize the rightful owner of the boating equipment to continue the use of the equipment; and
(2) Direct the owner of the boating equipment to have the original boating identification number replaced or restenciled on the piece of boating equipment.
(c) A person who pleads guilty or nolo contendere to or is found guilty of a violation under subsection (a) of this section is guilty of a Class D felony.