(a) In this section, “financial institution” means:
(1) Any bank that is authorized to do business in this State; and
(2) Any other financial institution that is licensed to do business in this State by the Commissioner of Financial Regulation.
(b) Any financial institution may apply to the Administration for the issuance of as many special, finance company registration plates as the Administration authorizes.
(c) A financial institution may drive, under any one finance company registration plate issued to it, any vehicle repossessed by or on behalf of the financial institution:
(1) From the place of its repossession to a place of storage;
(2) From one place of storage to another;
(3) To or from a business for its repair; or
(4) To or from a place for its inspection.