A rental fleet may be proportionally registered if the rental: Vehicles are identifiable as part of the designated rental fleet; and Fleet is maintained by the rental owner in two or more states from which vehicles of the rental fleet are rented or offered for rent. An applicant for proportional registration of a rental fleet shall file an application with the Administration on the form required by the Administration. The application shall contain information disclosed under oath, and as required by the Administration, to determine the eligibility of the applicant for proportional registration. The application shall contain such other information as may be required by the Administration for the proper registration of the rental fleet. Applications shall be filed on the date specified by the Administration, and fees shall be paid on the vehicles to be registered in this State as determined by §§E and F. The percentage of the total number of rental vehicles in a rental fleet, as determined in §F, shall be fully registered and titled in this State. The percentage to be fully registered and titled shall be determined by dividing the gross revenue received in the preceding year for the use of the rental vehicles arising from all motor vehicle rental transactions occurring in this State by the total gross revenue received in the preceding year for the use of the rental vehicles arising from all rental transactions occurring in all jurisdictions in which the rental fleet is operated. That percentage of the total number of rental vehicles in the rental fleet, rounded off to the nearest whole number, shall be fully registered and titled in Maryland. When vehicles are added to the fleet after the first day of the licensing year, the same percentage factor used at the beginning of that licensing year shall be used in determining the number of additional vehicles required to be registered in Maryland. After an application has been approved, and upon payment of the appropriate fees, the Administration shall issue: The registration plates or validation stickers; and A registration card which identifies the vehicle as part of a rental fleet. The registration card shall be carried at all times in or upon the vehicle for which it has been issued.