A. Registration plates acquired by any person, for any vehicle owned by that person, may be repurchased and registered to a newly acquired vehicle of a different class provided:
(1) Except as provided in §B of this regulation and Transportation Article, §13-503.1(b)(5), Annotated Code of Maryland, the ownership of the newly acquired vehicle has not changed from the name in which the plates are currently issued;
(2) The full registration and surcharge fees for the new vehicle classification as set forth in Transportation Article, Title 13, Subtitle 9 are paid in full; and
(3) The application is approved by the Administration.
B. A personalized registration plate may be repurchased and reassigned to an individual other than the current personalized registration plate owner provided:
(1) The applicant submits with the application the current personalized registration plate owners signature relinquishing the personalized plate; and
(2) The applicant pays the fees required by §A(2) of this regulation.
C. Substitute registration plates may be issued for unrecovered plates on an unrecovered stolen vehicle provided the Administration has a record of the stolen vehicle. The substitute plates may then be repurchased and registered pursuant to this regulation.