Any time 30 days after the terminal date, if a marine business chooses to have all rights, title and interest in a boat or any related equipment transferred to the marine business by operation of law, the marine business shall on the same day send the following two written notices by certified mail, return receipt requested:

(1) To an address designated in writing by the customer or, if not so designated, to the customer's last known address, indicating that the marine business intends to terminate all rights, title and interest in the boat or any related equipment by operation of law under this subchapter. If the marine business is sending a notice to the customer pursuant to 75 Pa.C.S. § 7324 (relating to notification by watercraft trailer dealer), it may send the notice required by this paragraph in the same mailing. The notice shall contain:

(i) The name, address and telephone number of the marine business.

(ii) A description of the boat, including make, model and year, and the hull identification number, a registration number or temporary decal number.

(iii) A description of any related equipment.

(iv) Notice that the marine business intends to terminate the owner's and lienholder's rights, title and interest in the boat and any related equipment by operation of law under this subchapter.

(v) The amount which must be paid to the marine business to redeem the boat and any related equipment as of the date of the notice.

(2) To the commission indicating that the marine business intends to terminate all rights, title and interest in the boat or any related equipment by operation of law under this subchapter. This notice shall be accompanied by a fee of $50 and shall be on a form prescribed by the commission.

Cross References. Section 5334 is referred to in sections 5336, 5339 of this title; section 7324 of Title 75 (Vehicles).