A person who registers or obtains or renews a license under this title after the date on which the person was required to register or to obtain or renew the license may limit the person's liability as provided by this subchapter by paying to the commissioner:
(1) all prior registration or license fees that the person should have paid under this title; and
(2) except as provided by Section 349.302(a), a late filing fee as provided by this subchapter.