(a) The department shall issue a title for a motor vehicle that complies with the other requirements under this chapter unless:
(1) the vehicle is not registered for a reason other than a reason provided by § 501.051(a)(6); and
(2) the applicant does not provide evidence of financial responsibility that complies with § 502.046.
(b) On application for a title under this section, the applicant must surrender any license plates issued for the motor vehicle if the plates are not being transferred to another vehicle and any registration insignia for validation of those plates to the department.