Any commercial radio station or broadcasting company that holds an unrevoked and unexpired official license issued by the federal communications commission or employees of the station or company when requested and approved by the station or the company, and who are residents of this state and have complied with all the laws of this state in regards to the registration of a motor vehicle, may apply for a set of special plates bearing an inscription thereon of the call letters authorized for the station or company radio license by making application therefor on a form prescribed by the department. The special plates are in lieu of the regular number plates issued for the motor vehicle. The special plates shall be displayed as set forth in §