(a) Upon the transfer of ownership of a vehicle, the registration number plates may be attached to another vehicle that is being leased by the registrant for a period greater than 30 days. The lessor shall become the registrant.

(b) Upon the termination of a lease of a vehicle, the registration number plates may be attached to another vehicle being leased by the lessee. The lessor of the new vehicle shall become the registrant.

(c) Upon the termination of a lease of a vehicle, the registration number plates may be attached to a vehicle, including the leased vehicle, being purchased or owned by the lessee. The lessor shall be deleted from the registration.

(d) For purposes of calculating fees, transactions pursuant to subsections (a) and (c) of this section shall be considered to be new registrations. Transactions pursuant to subsection (b) of this section shall be treated as registration transfers. A lessor shall not gain any rights in or to special number plates or reserved registration numbers through this process nor shall the prohibitions of subdivision 304(c)(3) of this title apply. (Added 1995, No. 97 (Adj. Sess.), § 1, eff. April 10, 1996.)