(a) No person shall with fraudulent intent:
(1) alter, forge, or counterfeit a certificate of title;
(2) alter or forge 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) possess or use a certificate of title knowing it to have been altered, forged, or counterfeited; or
(4) use a false or fictitious name or address, or make a material false statement, or fail to disclose a security interest, or conceal any other material fact, in an application for a certificate of title or a duplicate certificate of title.
(b) A person convicted under this section shall be fined not less than $500.00 nor more than $5,000.00 or be imprisoned for not less than one year or for more than five years, or both.