A licensee under this article shall have the right to transfer his license to another person provided he shall:
(a) Obtain written permission from the Director of Finance for such transfer.
(b) Execute the transfer in the form and under the conditions required by law and as prescribed by the Director of Finance.
The Director of Finance shall collect a transfer fee of two dollars ($2.00) from the transferee prior to the issuance of the new license.
(1969 Code §14-18)