The Secretary of the Department of Finance and Administration shall examine the following factors to determine whether to create and issue additional special license plates under this subchapter:
(1) Whether an application for the creation of an additional special license plate under this subchapter has been filed by either: The Adjutant General of the State of Arkansas for a special license plate related to members of the National Guard and reserve components of the armed forces; or
(2) The Secretary of the Department of Veterans Affairs for a special license plate related to veterans or any other branch of the United States Armed Forces; and
(3) Whether there has been a recent armed conflict or war in which members of the United States Armed Forces, the National Guard, or the reserve components of the armed services have served.