(a) In this section, "converter" means a person who holds a converter's license issued under Chapter 2301, Occupations Code.
(b) Instead of registering under Chapter 502 a vehicle that a converter operates or permits to be operated on a public street or highway, the converter may apply for, receive, and attach converter's license plates to the vehicle if it is the type of vehicle that the converter is engaged in the business of assembling or modifying.
(c) The fee for a converter's license plate is $20 a year.
(d) The department shall prescribe the form of an application under this section.
(e) A fee collected under this section shall be deposited to the credit of the Texas Department of Motor Vehicles fund.