(a) A person who with fraudulent intent commits any of the following acts shall be subject to the penalties provided in subsection (b) of this section:
(1) alters, forges, counterfeits, or knowingly makes or causes to be made a false official certificate of title;
(2) alters or forges an assignment of a certificate of title, or an assignment or release of a security interest, on a certificate of title or a form the Commissioner prescribes;
(3) has possession of or uses a certificate of title knowing it to have been altered, forged, counterfeited, or fraudulently obtained or made; or
(4) uses a false or fictitious name or address, or makes a material false statement, or fails to disclose a security interest, or conceals any other material fact in or alters information on or forges a signature on an application for a certificate of title or duplicate certificate of title.
(b) A person convicted of violating this section shall be fined not less than $500.00 or more than $5,000.00 or be imprisoned not less than one year or more than five years, or both.