1.  A vehicle used as a taxicab, limousine or other passenger vehicle in passenger service must be impounded by the Administrator if a certificate of public convenience and necessity has not been issued authorizing its operation. A hearing must be held by the Administrator no later than the conclusion of the second normal business day after impoundment, weekends and holidays excluded. As soon as practicable after impoundment, the Administrator shall notify the registered owner of the vehicle:

(a) That the registered owner of the vehicle must post a bond in the amount of $20,000 to ensure the registered owner’s presence at all proceedings held pursuant to this section;

(b) Of the time set for the hearing; and

(c) Of the registered owner’s right to be represented by counsel during all phases of the proceedings.

2.  The Administrator shall hold the vehicle until the registered owner of the vehicle appears and:

(a) Proves that the person is the registered owner of the vehicle;

(b) Proves that the person holds a valid certificate of public convenience and necessity;

(c) Proves that the vehicle meets all required standards of the Authority; and

(d) Posts a bond in the amount of $20,000 with the Administrator. The Administrator shall return the vehicle to its registered owner when the owner meets the requirements of this subsection and pays all costs of impoundment.

3.  If the registered owner is unable to meet the requirements of paragraph (b) or (c) of subsection 2, the Administrator may assess an administrative fine against the registered owner for each such violation in the amount of $5,000. The maximum amount of the administrative fine that may be assessed against a registered owner for a single impoundment of the registered owner’s vehicle pursuant to this section is $10,000. The Administrator shall return the vehicle after any administrative fine imposed pursuant to this subsection and all costs of impoundment have been paid.