In the absence of an agreement or arrangement with any jurisdiction, the administrator may examine the laws and requirements of such jurisdiction and declare the extent and nature of exemptions, benefits, and privileges to be extended to vehicles properly registered or licensed in such other jurisdiction, or to the owners or operators of such vehicles, which shall, in the judgment of best interests of this state and the citizens thereof and which shall be fair and equitable to this state and the citizens thereof, and all of the same shall be determined on the basis and recognition of the benefits which accrue to the economy of this state from the free flow of commerce.
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