If possession of an aircraft is transferred to a new owner, the dealer shall deliver the aircraft dealer's certificate and sales affidavit to the department

The department shall hold the certificate until an application is received from the dealer for transfer to another aircraft. Any person who makes a false statement of a material fact on a sales affidavit under this section is guilty of a Class 1 misdemeanor. Failure to report aircraft purchases and sales as required under this chapter is punishable by a civil penalty equal to the annual registration fee as provided in §