(a) (1) In this section the following words have the meanings indicated.
(2) (i) “Shark” means any species of the subclass Elasmobranchii.
(ii) “Shark” does not include smooth-hounds, spiny dogfish, or species in the superorder Batoidea.
(3) “Shark fin” means the raw, dried, or otherwise processed detached fin or tail of a shark.
(b) (1) Except as provided in paragraphs (2) and (3) of this subsection, a person may not possess, sell, offer for sale, trade, or distribute a shark fin.
(2) A person may possess a shark fin if:
(i) The person holds the appropriate State or federal license or permit authorizing the taking or landing of a shark for recreational or commercial purposes;
(ii) The shark fin is taken from a shark that the person has taken or landed; and
(iii) The shark fin is taken in a manner consistent with the person’s license.
(3) A museum, college, or university may possess a shark fin if the shark fin is used solely for display or research purposes.
(c) The Department shall adopt regulations to implement this section.