(a) Every person who is arrested for a violation of a traffic law, rule, or regulation punishable as a misdemeanor, who is not permitted to appear for trial on his or her own recognizance may in lieu of posting bond be admitted to bail upon depositing his or her current motor vehicle operator's or chauffeur's license.
(b)
(1) If the person is admitted to bail by depositing his or her current motor vehicle operator's or chauffeur's license with the arresting officer or clerk of the court, an official receipt shall be issued for the license, which shall be upon a form approved by the Director of the Office of Driver Services of the Department of Finance and Administration.
(2) The receipt shall serve in lieu of the operator's or chauffeur's license for the period of time and under the conditions provided in § 27-50-607.
(c) The motor vehicle operator's or chauffeur's license deposited as bail shall be retained by the clerk of the court before which the person is cited to appear for trial upon the charge.