The commission may refuse issuance of a certificate of title when it has reasonable grounds to believe:
(1) A required fee has not been paid.
(2) Taxes payable under the laws of this Commonwealth on or in conjunction with or resulting from acquisition or use of the boat have not been paid.
(3) The applicant is not the owner of the boat.
(4) The application contains false or fraudulent statements.
(5) The applicant has failed to furnish required information or documents or any additional information the commission reasonably requires.