Upon receipt of an application for a certificate of title accompanied by the documents and fees required under this subchapter, the Office of Motor Vehicle shall:
(1) File the application and documents with the date and hour the application and documents were received noted on the application; and
(2) If the application requirements are properly satisfied, issue a new certificate of title in the name of the owner and a statement of all liens or encumbrances certified to the office existing against the motorboat.