(1) Vessel dealer display decals must only be used:
(a) To demonstrate vessels held for sale when operated by a prospective customer holding a dated demonstration permit. The demonstration permit must be carried in the vessel at all times when it is being operated by a prospective customer;
(b) On vessels owned or consigned for sale that are available for sale and being used only for vessel dealer business purposes by an officer of the corporation, a partner, a proprietor, or by a bona fide employee of the firm. A card identifying the individual as described in this section must be carried in the vessel at all times it is being operated.
(2) A vessel held for sale by a licensed vessel dealer is not required to be registered and display a registration number and a valid vessel decal.