(1) An owner of stolen personal property may request that a dealer return the stolen property without charge to the owner by signing and following the terms of the affidavit in favor of the dealer as described in § 18-27-304(b).
(2) Unless reasonable cause exists, within seven (7) days after the later of the receipt of an affidavit described in § 18-27-304(b) and the written release, either conditional or outright, of any property hold issued by any law enforcement agency with respect to the identifiable stolen property, a dealer shall: Deliver the identifiable stolen property to the owner; or
(3) File a legal action in a court of competent jurisdiction to determine ownership.
(4) If the dealer refuses to make an election under subsection (b) of this section, the owner may file a replevin action to recover the property and the court may award and apportion costs and attorney's fees as appropriate under the facts of the case.