No for-hire motor vehicle carrier of property, except carriers of household goods or hazardous waste for disposal, may operate in this State without having applied for and received a Class E Certificate of Compliance from the Department of Motor Vehicles. A one-time fee of twenty-five dollars may be charged each company for each certificate issued.

The applicant must provide evidence of meeting the financial responsibilities or insurance requirements, satisfy compliance requirements of the United States Department of Transportation motor carrier safety and hazardous materials regulations before issuance, and continually satisfy these requirements or certification may be suspended, revoked, or placed in a probationary status.

The Department of Motor Vehicles is authorized to promulgate regulations to implement these responsibilities.

The holder of a Class E Certificate may be eligible for exceptions provided by §§ 58-23-620 and 44-96-160(W)(1).