(a) If the transferee of a vehicle is a licensed dealer who holds the vehicle for sale, the transferee need not obtain a new registration of the vehicle if he:

(1) Lawfully drives it under a dealer’s registration plate; or

(2) Does not drive the vehicle or permit it to be driven on the highways.

(b) If a licensed dealer transfers a vehicle to a person who possesses current registration plates issued to another registered vehicle, and if these registration plates are transferable, the dealer shall issue to the transferee a permit that authorizes the transferee to use these current registration plates on the transferred vehicle for a period of not more than 60 days from the date of the transfer.

(c) The dealer may not issue more than one of the permits described under subsection (b) of this section for any vehicle.

(d) The permit described under subsection (b) of this section shall be issued by the dealer on the form and in the manner that the Administration requires.

(e) The permit described under subsection (b) of this section shall be signed by the dealer and carried and displayed the same as registration cards are required to be carried and displayed under Subtitle 4 of this title.