(1) An owner or lessee of a motor vehicle who is a resident of this state, upon complying with state motor vehicle laws relating to registration and licensing of motor vehicles, and paying the regular fee applicable to the motor vehicle and the fee provided for in § 55-4-204, shall be issued a University of Florida collegiate license plate for a motor vehicle authorized by § 55-4-210(c).
(2) The collegiate plates provided for in this section shall be of the colors and contain the logo of the University of Florida.