(1) A person who commits any of the following acts is guilty of a felony:

    (a) Alters with fraudulent intent a certificate of title, registration certificate, or registration plate issued by the department.

    (b) Forges or counterfeits a certificate of title, registration certificate, or registration plate purporting to have been issued by the department.

    (c) Alters or falsifies with fraudulent intent or forges an assignment upon a certificate of title.

    (d) Holds or uses a certificate of title, registration certificate, or registration plate knowing that it has been altered, forged, or falsified.

    (e) Knowingly possesses, sells, or offers for sale a stolen, false, or counterfeit certificate of title, registration certificate, registration plate, registration decal, or registration tab.

    (f) Fraudulently indicates on a certificate of title that there is no security interest on record for the vehicle.

    (g) Forges or counterfeits a letter from the holder of a security interest in a vehicle stating that the security interest has been released.

    (2) A person who is convicted of a second violation of this section shall be punished by imprisonment for not less than 2 years or more than 7 years, or by a fine of not less than $1,500.00 or more than $7,000.00, or both.

    (3) A person who is convicted of a third or subsequent violation of this section shall be punished by imprisonment for not less than 5 years or more than 15 years, or by a fine of not less than $5,000.00 or more than $15,000.00, or both.

    (4) A person who is convicted of a violation of subsection (1)(f) or (g), in addition to any other penalty, shall pay restitution to the holder of a security interest in the vehicle in the amount of the outstanding lien on the vehicle.