As used in the Boat Act:

A. “vessel” means every description of watercraft, other than a seaplane on the water, used or capable of being used as a means of transportation on water;

B. “motorboat” means any vessel propelled by machinery, whether or not machinery is the principal source of propulsion, but does not include a vessel that has a valid marine document issued by the bureau of customs of the United States government or any federal agency successor thereto; “motorboat” includes any vessel propelled or designed to be propelled by sail and that does not have a valid document issued by a federal agency, but does not include a sailboard or windsurf board;

C. “owner” means a person, other than a lienholder, having the property in or title to a motorboat; “owner” includes a person entitled to the use or possession of a motorboat subject to an interest in another person, reserved or created by agreement and securing payment or performance of an obligation, but excludes a lessee under a lease not intended as security;

D. “waters of this state” means waters within the territorial limits of this state;

E. “person” means an individual, partnership, firm, corporation, association or other entity;

F. “operate” means to navigate or otherwise use a motorboat or a vessel;

G. “state agency” means any department, institution, board, bureau, commission, district or committee of the government of this state and means every office or officer of any state agency;

H. “subdivision of the state” means every county, county institution, board, bureau or commission, incorporated city, town or village, drainage, conservancy, irrigation or other district and every office or officer of any subdivision of this state;

I. “division” means the state parks division of the energy, minerals and natural resources department;

J. “boat” means a motorboat that is ten feet in length or longer;

K. “dealer” means any person who engages in whole or in part in the business of buying, selling or exchanging new and unused motorboats or used motorboats, or both, either outright or on conditional sale, bailment, lease, chattel mortgage or otherwise and who has an established place of business for sale, trade and display of motorboats; “dealer” includes a yacht broker;

L. “lien” means every chattel mortgage, conditional sales contract, lease, purchase lease, sales lease, contract, security interest under the Uniform Commercial Code [N.M. Stat. Ann. Chapter 55] or other instrument in writing having the effect of a mortgage or lien or encumbrance upon, or intended to hold the title to any boat in the former owner, possessor or grantor;

M. “manufacturer” means any person engaged in the business of manufacturing or importing new and unused motorboats for the purpose of sale or trade;

N. “demonstration” means:

(1)     the operation of a motorboat on the waters of this state for the purpose of selling, transferring, bartering, trading, negotiating or attempting to negotiate the sale or exchange of an interest in a motor boat; or

(2)     the operation of a motorboat by a manufacturer for the purpose of testing the motorboat; and

O. “established place of business” means a salesroom in an enclosed building or structure that the dealer owns or leases, where the business of bartering, trading and selling of motorboats is conducted and where the books, records and files necessary to conduct the business are maintained.