(a) Transfer to dealer.--If a dealer acquires a snowmobile or ATV for the purpose of resale, a certificate of title need not be applied for as provided for in section 7712.1 (relating to certificate of title for snowmobile or ATV), but the dealer shall, within seven days from the date of acquisition, forward to the department, upon a form prescribed and furnished by the department, notification of the acquisition of the snowmobile or ATV.

(b) Execution and display of notice of transfer.--A dealer making notification pursuant to subsection (a) shall execute at least three copies of the notification, the original of which shall be forwarded to the department, one copy to accompany the snowmobile or ATV in any subsequent transfer and one copy to be retained by the dealer for at least one year after a subsequent transfer, to be exhibited, with the assigned certificate of title, upon request of a police officer or authorized department employee.

(c) Transfer from dealer.--Except as otherwise provided in subsection (a), if a dealer transfers the dealer's interest in a snowmobile or ATV:

(1) The dealer shall execute an assignment and warranty of title to the transferee in the space provided on the certificate of title or as the department prescribes.

(2) The transferee shall complete the application for certificate of title in the name of the transferee, sworn to before a notary public or other officer empowered to administer oaths.

(3) The dealer shall forward to the department the certificate of title executed as required by paragraph (1), a properly completed application for certificate of title and such other forms as the department may require within 15 days of the transfer.

(d) Exception for repossessed snowmobiles or ATV's.--This section does not apply to a snowmobile or ATV repossessed upon default of performance of a lease, contract of conditional sale or similar agreement.

(e) Penalty and suspension or revocation of dealer registration.--A dealer who violates this section commits a summary offense and shall, upon conviction, be sentenced to pay a fine of $50. If a dealer violates this section, the department may suspend or revoke the registration issued under section 7711 (relating to registration of dealers).

(Dec. 12, 1986, P.L.1562, No.170, eff. 60 days; June 25, 2001, P.L.701, No.68, eff. 120 days)