The following words and terms, when used in this subchapter, have the following meanings, unless the context clearly indicates otherwise:
Dealer-A person who engages in whole or in part in the business of buying, selling or exchanging new and unused boats, or used boats, or both, either outright or on conditional sale, bailment, lease, chattel mortgage, or otherwise, and who has an established place of business for the sale, trade and display of boats. The term includes a yacht broker.
Manufacturer-A person engaged in the business of manufacturing or importing new and unused boats, or new and unused outboard motors, for the purpose of sale or trade.
Reconstructed boat-One of the following:
(i) A boat for which a certificate of title (salvage/junk) has been issued, which is thereafter restored to operating condition and which is substantially in conformance with the specifications of the manufacturer.(ii) A boat that has been materially altered by the removal, addition or substitution of essential parts derived from various other makes or models, or that the Commission has determined is readily recognizable as a boat of a generally recognized make or model.Specially constructed boat-One of the following:
(i) A boat not originally constructed by a generally recognized manufacturer of boats under a distinctive name and not materially altered from its original construction, but assembled from parts of various boats or kits, or both, and that would be commonly known as a "homemade" boat.(ii) A boat that has been materially altered by the removal, addition or substitution of essential parts derived from various other makes and models and that the Commission determines cannot be readily identified as a boat of a generally recognized make or model.