If a registered and licensed motor vehicle is destroyed by collision or fire, disposed of for salvage, or if rejected or condemned for use on the highways as the result of action by any inspection authority of this state, the registered owner of the current license plates thereon may remove the license plates and attach the plates to a newly acquired vehicle. Credit for the remaining months on the registration shall be given. If the plates were destroyed, the owner shall apply for a replacement set of plates for a fee of ten dollars.

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Source: SL 1967, ch 210, § 1; SL 1989, ch 257, § 58; SL 2007, ch 173, § 10.