23-2-508. Certificate of title. (1) Except as provided in subsection (3), a motorboat or sailboat 12 feet in length or longer may not be operated upon the waters of the state unless a certificate of title has first been obtained from the department of justice in accordance with the laws of this state.

(2) Unless expressly exempted, the provisions of Title 61, chapter 3, parts 1 and 2, apply to a motorboat or sailboat 12 feet in length or longer.

(3) A person who has owned the same motorboat or sailboat 12 feet in length or longer since July 1, 1988, with a valid certificate of number issued by the state is not required to file an application for a certificate of title for the motorboat or sailboat unless the person transfers a part of the person's interest in the motorboat or sailboat or renews the certificate of number for the motorboat or sailboat.