(1) The possession of a municipal or county street, road or highway sign erected upon any municipal or county street, road or highway by any person who is not an employee of a municipal or county highway department, or who has not entered into a contract with a municipality or county for the sale or erection of a street, road or highway sign, is a Class B misdemeanor punishable by a fine only of not more than five hundred dollars ($500). The possession of each street, road or highway sign in violation of this section shall be considered a separate offense.
(2) This section shall only apply to a municipal or county road, street or highway sign that contains markings or other form of identification on the sign indicating the municipality or county that erected or caused to be erected the sign, and the date the sign was acquired or erected by such municipality or county.
(3) In addition to the fine provided for in subsection (a), any person convicted of a violation of this section shall also be required to pay restitution to the highway department that erected or caused to be erected the street, road or highway sign, for the costs of replacing the sign. The highway department shall submit information documenting the costs of replacement for the judge to review. After review, the judge shall order the appropriate amount of restitution, which shall be distributed directly to the highway department.
(4) This section shall only apply to municipal or county street, road or highway signs that are acquired or erected after July 1, 1998.