Section 2105. Application for first certificate of title

(a)  The
  application for the first certificate of title  of  a  vehicle  in  this
  state  shall  be  made  by  the owner to the commissioner on the form he
  prescribes and shall contain or be accompanied by:
    (1) The name, residence and mail address and social security number of
  the owner;
    (2) A description of the vehicle including, so far  as  the  following
  data  exists:  its make, year model, identifying number, type of body if
  a motor vehicle or hull material if a vessel, and whether new  or  used,
  and any other information required by the commissioner;
    (3)  The  date  of  purchase by applicant, the name and address of the
  person from whom the vehicle was acquired and the names and addresses of
  any lienholders in the order of their apparent priority;
    (4) A statement signed by the applicant, stating either, (i) any facts
  or information known to him that could reasonably affect the validity of
  the title of the vehicle or the existence or non-existence  of  security
  interests  in it; or (ii) that no such facts or information are known to
  him; and
    (5) Any other information and documents  the  commissioner  reasonably
  requires  to identify the vehicle and to enable him to determine whether
  the owner is entitled to a certificate of title  and  the  existence  or
  non-existence of security interests in the vehicle.
    (b) If the application refers to a vehicle purchased from a dealer, it
  shall  contain the name and address of any lienholder holding a security
  interest created or reserved at the time of the sale and  be  signed  by
  the  dealer  as well as the owner, and the dealer shall promptly mail or
  deliver the application to the commissioner.
    (c) If the application refers to a vehicle last previously  registered
  or  licensed  in another state or country, the application shall contain
  or be accompanied by:  (1) Any certificate of title issued by the  other
  state or country;
    (2)  Any  other  information and documents the commissioner reasonably
  requires to establish the ownership of the vehicle and the existence  or
  non-existence of security interests in it.
    (d)  If  the  commissioner is not satisfied as to the ownership of the
  vehicle or that there are no undisclosed security interests in  it,  the
  commissioner  may  register  the  vehicle but shall either: (1) withhold
  issuance  of  a  certificate  of  title  until  the  applicant  presents
  documents  reasonably  sufficient  to satisfy the commissioner as to the
  applicant's ownership of the vehicle and that there are  no  undisclosed
  security interests in it; or (2) as a condition of issuing a certificate
  of  title,  require  the  applicant to file with the commissioner a bond
  prescribed by the commissioner and executed by the applicant, and  by  a
  person  authorized  to conduct a surety business in this state. The bond
  shall be in an amount equal to one and one-half times the value  of  the
  vehicle  as  determined by the commissioner and conditioned to indemnify
  any prior owner and lienholder  and  any  subsequent  purchaser  of  the
  vehicle  or  person  acquiring  any  security  interest in it, and their
  respective successors in interest, against any expense, loss  or  damage
  by  reason of the issuance of the certificate of title of the vehicle or
  on account of any defect in or undisclosed security  interest  upon  the
  right,  title  and  interest of the applicant in and to the vehicle. Any
  such interested person has a right of action to recover on the bond  for
  any  breach of its conditions, but the aggregate liability of the surety
  to all persons shall not exceed the amount of the bond. The  bond  shall
  be  returned at the end of three years or prior thereto if the currently
  valid certificate of title is surrendered to the  commissioner,  but  it
  shall  not  be  returned  prior  to  the  end  of  three  years  if  the

  commissioner has been notified of the pendency of an action  to  recover
  on  the  bond  or  if  the  currently  valid  certificate  of  title was
  surrendered  to  another  state  as  proof  of  ownership  to  obtain  a
  certificate  of  title  from  that state. Nothing contained herein shall
  require the commissioner of motor vehicles to  issue  a  certificate  of
  title upon the presentation of a bond.