(1) Sections 67-7039 through 67-7041, Idaho Code, shall be known and cited as the "Vessel Titling Act."
(2)  The Idaho transportation department is hereby granted authority to carry out the administration of the provisions of this act and to promulgate rules to effectuate that purpose.
(3)  All titling procedures for vessels shall be governed by title 49, Idaho Code. Unless otherwise provided, the term "vessel" shall be interchangeable with the term "vehicle" throughout title 49, Idaho Code, for the purposes of vessel titling and vessel dealers and salesmen licensing requirements.
(4)  All vessel dealers, wholesalers, manufacturers, salesmen, distributors and representatives shall be required to be licensed as required by chapter 16, title 49, Idaho Code.
(5)  All vessel dealers shall be required to procure and file a bond in the amount required in section 49-1608, Idaho Code.