1. Before the issuance of any certificate of ownership, the Department shall obtain a statement in writing signed by the transferee or transferor, showing:
(a) The date of the sale or other transfer of ownership of the power-driven vessel.
(b) The name and address of the seller or transferor.
(c) The name and address of the buyer or transferee.
2. Upon receipt of:
(a) The properly endorsed certificate of ownership;
(b) The certificate of number and the required fee;
(c) The statement of information; and
(d) Proof that the applicable taxes have been paid,
Ê the Department shall issue a new certificate of ownership and a new certificate of number to the transferee. The previous number may be reassigned to the transferee.