(1) As used in this section, "all-terrain vehicle" has the same meaning as in KRS 189.010.
(2) The titling of all-terrain vehicles shall be administered through the automated motor vehicle and trailer registration and titling system developed and implemented under KRS 186A.010.
(3) The Transportation Cabinet shall promulgate administrative regulations pursuant to KRS Chapter 13A requiring the procedures for titling of all-terrain vehicles to be consistent as far as practicable with motor vehicle titling. These regulations may pertain but shall not be limited to the following:
(a) Conditions and characteristics of certificate of title forms;
(b) Comparison and identification of identification or serial numbers of all-terrain vehicles;
(c) Application for title;
(d) Processing of title applications;
(e) Form of certificate of title;
(f) Notation of security interests on title;
(g) Title lien statements;
(h) Transfer of all-terrain vehicle ownership; and (i) Duplicate certificate of title.
(4) The Transportation Cabinet shall ensure that the automated motor vehicle and trailer registration and titling system is capable of receiving and discharging a lien associated with the owner of an all-terrain vehicle. An all-terrain vehicle dealer shall not be responsible for the payment of a lien on an all-terrain vehicle which is received as trade-in or otherwise obtained by the dealer.