1.  All nonresident owners or operators of vehicles of a type subject to registration under this chapter operating those vehicles on the public highways of this State as common motor carriers of persons or property, contract motor carriers of persons or property, or private motor carriers of property, as such carriers are now or may hereafter be defined in the laws of this State relating thereto are governed by and must pay the fees required by the provisions of those laws with respect to the operation of those vehicles in any of such carrier services.

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2.  All such nonresident owners or operators of such vehicles may operate the vehicles upon the public highways of this State without any registration thereof in this State under the provisions of this chapter and without the payment of any registration fees to the State upon the following conditions:

(a) That each vehicle must be operated pursuant to ‘ 530 of article V of the International Registration Plan, as adopted by the Department pursuant to NRS 706.826, or be registered or licensed and have attached thereto the registration or license plates for the then current year, pursuant to the motor vehicle registration laws of the state or country wherein the owner of the motor vehicle resides or maintains his or her principal place of business and wherein the vehicle is registered for that year, which registration or license plates must be displayed on the vehicle during all of the time operated in this State.

(b) That the laws of the state or country of the residence or principal place of business of the owner of the vehicle do not require the registration of the vehicles and payment of fees therefor from residents of this State engaging in similar carrier services in the state or country of the residence or principal place of business of the nonresident owner wherein the motor vehicle is registered.