A resident factory representative of any motor vehicle manufacturer may procure from the director a manufacturer’s plate, which must be designed by the director, for a fee of one hundred fifty dollars, which fee is for a twelve-month period. If such plate is procured at other than the beginning of the registration period, such fees must be prorated on a monthly basis. The procurement of such manufacturer’s plate by a factory representative is in lieu of the payment of any other registration fees, sales tax, or use tax on the motor vehicle used by the factory representative in the course of employment for the period for which the manufacturer’s plate is current and valid. The manufacturer’s plate may not be used by any person other than the representative to whom it was issued, nor may such plate be used on any vehicle other than that vehicle used by the factory representative in the course of employment. Upon the sale of the vehicle for which such manufacturer’s plate was issued, the plate must be retained by the factory representative and used upon replacement vehicles subsequently acquired from the manufacturer for use in the course of employment.

In addition to the foregoing provisions, a manufacturer of motor vehicles is entitled to use a manufacturer plate on its demonstration vehicles. Such plate must be issued in the name of the manufacturer and must be used solely for demonstration purposes only by the registrant or its designated employees.