In this section the following words have the meanings indicated. “Shark” means any species of the subclass Elasmobranchii. “Shark” does not include smooth–hounds, spiny dogfish, or species in the superorder Batoidea. “Shark fin” means the raw, dried, or otherwise processed detached fin or tail of a shark. Except as provided in paragraphs (2) and (3) of this subsection, a person may not possess, sell, offer for sale, trade, or distribute a shark fin. A person may possess a shark fin if: The person holds the appropriate State or federal license or permit authorizing the taking or landing of a shark for recreational or commercial purposes; The shark fin is taken from a shark that the person has taken or landed; and The shark fin is taken in a manner consistent with the person’s license. A museum, college, or university may possess a shark fin if the shark fin is used solely for display or research purposes. The Department shall adopt regulations to implement this section.