(1) When the owner of a numbered vessel removes his residence to another state, or the numbered vessel is not usually moored, docked, housed or garaged within this state, the owner shall, within ninety (90) days thereafter, surrender the certificate of number to the commission.
(2) When the owner of a numbered vessel changes his address from that shown on the certificate of number, he shall notify the commission of his new address within a period not to exceed fifteen (15) days from such change.
(3) When a numbered vessel is lost, destroyed, abandoned or transferred to another person, the certificate of number issued for the vessel shall be surrendered to the commission within a period not to exceed fifteen (15) days after such event. When the vessel is lost, destroyed or abandoned and the certificate of number has been destroyed, the owner shall, within fifteen (15) days, notify the commission by letter or postal card of the change in the status of the vessel.
The application for number by a new owner of a vessel shall, for the purpose of fee, be regarded as an original application for number, but where the vessel will continue in use in the state, the new number shall be identical with the previous one.
(4) A change of motor is not required to be reported to the commission.
(5) The owner of an undocumented vessel shall not have more than one (1) valid number or valid certificate of number for any one (1) vessel at any time.
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