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(1) At the time application is made for reinstatement or renewal of registration of a motor vehicle after a revocation of the registration under Subsection 41-1a-110(2), the applicant shall pay a registration reinstatement fee of $100.
(2) The fee imposed under Subsection (1):
(a) is in addition to any other fee imposed under this chapter; and
(b) shall be deposited in the Uninsured Motorist Identification Restricted Account created in Section 41-12a-806.
(3) The division shall waive the registration reinstatement fee imposed under this section if:
(a) the registration was revoked under Subsection 41-1a-110(2)(a)(ii); and
(b) a person had owner's or operator's security in effect for the vehicle at the time of the alleged violation or on the day following the time limit provided after the second notice under Subsection 41-12a-804(2).