(1) Is designed to be operated by human power with the assistance of an electric motor;

(2) Is equipped with fully operable pedals;

(3) Has two or three wheels;

(4) Has a motor with a rating of 750 watts or less; and

(5) Meets one of the requirements of subsection (b) of this section.

(b) (1) A Class 1 electric bicycle is equipped with a motor that provides assistance only when the rider is pedaling and ceases to provide assistance when the bicycle reaches a speed of 20 miles per hour.

(2) A Class 2 electric bicycle is equipped with a motor that provides assistance whether or not the rider is pedaling the bicycle and ceases to provide assistance when the bicycle reaches a speed of 20 miles per hour.

(3) A Class 3 electric bicycle is equipped with a motor that provides assistance only when the rider is pedaling and ceases to provide assistance when the bicycle reaches a speed of 28 miles per hour.