Penalties

(a) Any person who, with fraudulent intent: (1) Alters, forges or counterfeits a certificate of title; (2) alters or forges an assignment of a certificate of title, or an assignment or release of a security interest or a termination statement, on a certificate of title or a form the Department of Motor Vehicles prescribes; (3) has possession of or uses a certificate of title knowing it to have been altered, forged or counterfeited; or (4) uses a false or fictitious name or address, or makes a material false statement, or fails to disclose a security interest, or conceals any other material fact, in an application for a certificate of title, shall be fined not less than five hundred dollars or more than one thousand dollars or be imprisoned not less than one year or more than five years or be both fined and imprisoned. (b) Any person who: (1) With fraudulent intent, permits another person, not entitled thereto, to use or have possession of a certificate of title; (2) wilfully fails to deliver an application for a certificate of title to the department within ten days after the time required by section 15-206; (3) wilfully fails to deliver to such person's transferee a certificate of title within ten days after the time required by section 15-216; or (4) wilfully violates any provision of sections 15-201 to 15-232, inclusive, other than subdivision (2) or (3) of this subsection and except as provided in subsection (a) of this section, shall be fined not more than one thousand dollars or be imprisoned not more than two years or be both fined and imprisoned.