Every licensee shall have the licensee's driver license in immediate possession at all times when operating a motor vehicle and shall display it upon demand of any officer of the City Police Department. Where the licensee has previously deposited the license with the officer or court demanding bail, and has received a receipt from the officer or the court, it will serve as a substitute for the license until the specified date for court appearance of the licensee or the license is otherwise returned to the licensee by the officer or court accepting the license for deposit.