A dealer or an agent or employee of a dealer who does any of the following is guilty of a felony, punishable by imprisonment for not more than 2 years, or a fine of $5,000.00, or both:

    (a) Totally fails to record a transaction on a record of transaction form as required by section 4.

    (b) Knowingly falsifies the records kept as required by section 4.

    (c) Violates section 6.