"Electric assisted bicycle" means a vehicle that:
(1) Is designed to be operated on the ground on wheels;
(2) Has a seat or saddle for use of the rider;
(3) Is designed to travel with not more than three wheels in contact with the ground;
(4) Has both fully operative pedals for human propulsion and an electric motor; and
(5) Is equipped with an electric motor that:
(a) Has a power output of not more than 1,000 watts; and
(b) Is incapable of propelling the vehicle at a speed of greater than 20 miles per hour on level ground.