(a) An application for a salvage certificate shall be accompanied by a fee in an amount determined by the director of finance and shall contain:
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(1) The name and address of the applicant;(2) A description of the vehicle being salvaged; and(3) Any further information reasonably required by the director of finance.(b) A salvage certificate shall authorize the holder of the certificate to possess, transport but not drive upon a highway, and transfer ownership in a salvage vehicle.(c) A salvage certificate shall contain the word “salvage” on the face of the certificate and shall be made upon forms prescribed by the director of finance.