(1) Each vessel or outboard motor, identified by the manufacturer as a 1985 year model or newer, operated on the waters of this state is subject to the title provisions of this part except:
(a) vessels that have valid marine documents issued by the United States Coast Guard;
(b) canoes;
(c) inflatable vessels powered by an outboard motor with a manufacturer's listed horsepower of 25 or less;
(d) outboard motors with a manufacturer's listed horsepower of 25 or less;
(e) vessels and outboard motors owned and operated by nonresidents of the state;
(f) vessels or outboard motors owned and operated by the federal government; or
(g) vessels exempt from registration under Section 73-18-9.
(2) The division may not provide a title on vessels and outboard motors identified by the manufacturer as a 1984 year model or older.