306.015.  Vessels, registration, procedure, fee — delinquent application, penalty fee — failure to obtain certificate of title, effect of. — 1.  The owner of a vessel kept within this state shall cause it to be registered in the office of the director of revenue who shall issue a certificate of title for the same.

  2.  The owner of any vessel acquired or brought into the state shall file his application for title within sixty days after it is acquired or brought into this state.  The director of revenue may grant extensions of time for titling to any person in deserving cases.

  3.  The fee for the certificate of title shall be seven dollars fifty cents and shall be paid to the director of revenue at the time of making application.  If application for certificate of title is not made within sixty days after the vessel is acquired or brought into the state, a delinquency penalty fee of ten dollars for each thirty days of delinquency, not to exceed a total of thirty dollars, shall be imposed.  If the director of revenue learns that any person has failed to make application for certificate of title within sixty days after acquiring or bringing into the state a vessel or has sold a vessel without obtaining a certificate of title, he shall cancel the registration of all motorboats, vessels, and watercraft registered in the name of the person, either as sole owner or as co-owner, and shall notify the person that the cancellation will remain in force until the person pays the delinquency penalty fee provided in this section together with all fees, charges, and payments which he should have paid in connection with the certificate of title of the vessel.

  4.  In the event of a sale or transfer of ownership of a vessel or outboard motor for which a certificate of ownership or manufacturer's statement of origin has been issued, the holder of such certificate shall endorse on the same an assignment thereof, with warranty of title in form printed thereon, and prescribed by the director of revenue, with a statement of all liens or encumbrances on such vessel or outboard motor, and deliver the same to the buyer at the time of delivery to the buyer of such vessel or outboard motor; provided that, when the transfer of a vessel or outboard motor occurs within a corporation which holds a license to operate as a motor vehicle or boat dealer under sections 301.550 to 301.573 and this section, the provisions of subdivision (3) of subsection 7^* of section 144.070 shall not apply.