Every person, other than the operator of a bicycle establishment, who sells or transfers ownership of any bicycle shall report the sale or transfer of ownership to the chief of police. He or she shall return the registration plate issued to such person to the chief of police, together with the name and address of the person to whom such bicycle has been sold or transferred, within seven days from the date of sale or transfer. If the sale or transfer is made to the operator of a bicycle establishment, then such registration plate shall be given to the owner of such bicycle establishment who shall then forward the registration plate to the chief of police.