§519.2. Temporary license plates; lending institutions; auto title companies

A. Subject to the provisions of this Section, the commissioner may sell temporary license plates to lending institutions which are chartered by the office of financial institutions or by an agency of the federal government and to auto title companies which are defined in R.S. 32:702(12).

B. The purpose of this Section is to provide lending institutions and auto title companies an opportunity to obtain temporary license plates to be issued to a person who purchases a vehicle for which the lending institution has provided financing and with regard to which the financial institution or auto title company handles the applications for a title and for registration.

C. Lending institutions and auto title companies may purchase and issue temporary license plates for the purpose stated in Subsection B of this Section. All other uses of the temporary plates authorized under this Section are prohibited.

D. Temporary license plates may be issued under this Section for any vehicle for which the commissioner issues permanent license plates.

E. The fee for each temporary license plate is four dollars.

F. The commissioner shall design the temporary plates and shall design and furnish all forms required under this Section.

G. Temporary license plates shall expire on the date the permanent license plate is received, or on the ninetieth day after the temporary license plate is issued, even if the permanent license plate has not been received, whichever is sooner.

H. Each person to whom a temporary license plate has been issued shall destroy the temporary license plate on the day the temporary license plate expires.

I. The commissioner shall adopt rules to implement the provisions of this Section. The rules shall include, but shall not be limited to:

(1) Rules establishing requirements for being eligible to participate in the program.

(2) Rules establishing grounds and procedures for suspending or revoking eligibility to participate in the program and for reclaiming temporary license plates.

(3) Rules establishing requirements for information which the lending institutions shall transmit to the commissioner with regard to each temporary license which the lending institution purchases and issues.

(4) Rules establishing procedures for issuing temporary license plates.

(5) Rules establishing requirements for keeping records concerning temporary license plates, including the information in the records and access to the records.

J. The provisions of this Section shall not apply to temporary license plates issued for commercial motor vehicles for which the taxes are apportioned.

Acts 1990, No. 125, §1; Acts 1992, No. 626, §1; Acts 1993, No. 33, §1, eff. May 18, 1993.