(a) As used in this section:

(1) "Affiliate" means any entity that directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or control with another entity;

(2) (A) "Fleet of motor vehicles" means at least fifty (50) motor vehicles that are:

(i) Owned or leased by a person or entity described in § 26-26-1601(12)-(16) or affiliates of that person or entity; and

(ii) Used for business purposes.

(B) "Fleet of motor vehicles" includes commercial motor vehicles that are base-plated in the State of Arkansas or passenger motor vehicles otherwise subject to registration under this chapter.

(C) "Fleet of motor vehicles" does not include motor vehicles registered and governed under § 27-14-502 or motor vehicles registered under an international registration plan administered by a state other than Arkansas; and

(3) "Owns or controls" means owning or holding at least a majority of the outstanding voting power of an entity.

(b) Notwithstanding any other provision of this chapter, the registered owner or lessee of a fleet of motor vehicles may apply as provided in this section to the Office of Motor Vehicle for a license plate with a decal identifying the vehicle as a fleet vehicle.

(c) The license plate issued under this section shall be the standard license plate for the class and type of vehicle otherwise required under this chapter with a decal bearing the word "fleet" at the bottom of the license plate.

(d)

(1) Payment of all registration fees and fleet management fees under this section shall be paid in advance for a period of three (3) years.

(2)

(A) The fees for renewal of a vehicle registration under this section shall be due and payable during the last month of the last year of the registration period.

(B) Upon request, the office shall allow the owner of a fleet of motor vehicles to set all renewals for the fleet to occur in a month requested by the owner.

(3) The office may shorten or lengthen the term of any renewal period under this section by rule and upon notice to all owners of a fleet registered under this section as necessary to provide a staggered system of renewal in which approximately one-third (1/3) of the vehicles in a fleet shall be renewed in any given year.

(e)

(1) The fees for registration and renewal of registration of a vehicle under this section shall be the same amount as and shall be distributed in the same manner as the fees otherwise required under this chapter for the type and class of vehicle being registered.

(2)

(A) In addition to the registration fees prescribed for issuance or renewal under this chapter, an annual fleet management fee of ten dollars ($10.00) per motor vehicle in the fleet of motor vehicles shall be charged.

(B) The annual fleet management fee shall be deposited as special revenues into the State Central Services Fund to be used exclusively for the benefit of the Revenue Division of the Department of Finance and Administration.

(f)

(1) Upon payment of the registration fees and fleet management fees as provided under subsection (e) of this section, the owner or lessee of the fleet of motor vehicles shall be issued a license plate with a decal for each motor vehicle in the fleet of motor vehicles registered under this section.

(2) Each license plate with a decal issued under this section shall bear a validation sticker as required for standard license plates issued under this chapter reflecting the period that the owner or lessee of the fleet of motor vehicles has paid in advance.

(g) A license plate with a decal issued under this section may be transferred to another vehicle of the same type and class in the same fleet of motor vehicles in the same manner and subject to the same fees prescribed in §§ 27-14-902 and 27-14-914.

(h) A license plate with a decal issued under this section that has been lost or destroyed may be replaced in the same manner and subject to the same fees prescribed in § 27-14-602.

(i) The office may adopt rules for the implementation, administration, and enforcement of this section.