Sec. 502.041. INITIAL REGISTRATION. (a) Notwithstanding Section 502.040, the owner of a vehicle may concurrently apply for a title and for registration through the county assessor-collector of the county in which:

(1) the owner resides; or

(2) the vehicle is purchased or encumbered.

(b) The first time an owner applies for registration of a vehicle, the owner may demonstrate compliance with Section 502.046(a) as to the vehicle by showing proof of financial responsibility in any manner specified in Section 502.046(c) as to:

(1) any vehicle of the owner; or

(2) any vehicle used as part of the consideration for the purchase of the vehicle the owner applies to register.

Transferred, redesignated and amended from Transportation Code, Section 502.157 by Acts 2011, 82nd Leg., R.S., Ch. 1296 (H.B. 2357), Sec. 79, eff. January 1, 2012.