(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 “Regional Medical Center at Memphis (The MED)” new specialty earmarked license plate for a motor vehicle authorized by § 55-4-210(c).
(2) The purpose of the new specialty earmarked license plates provided for in this section is to honor the contribution of the Regional Medical Center at Memphis (The MED) in protecting and maintaining the public health and welfare. The plates provided for in this section shall be designed in consultation with the Regional Medical Center at Memphis (The MED).
(3) The funds produced from the sale of “Regional Medical Center at Memphis (The MED)” new specialty earmarked license plates shall be allocated to the Regional Medical Center at Memphis (The MED) in accordance with § 55-4-301.