(A) When an owner or operator who has paid the license fee for which provision is made in this subchapter, shall sell or dispose of his or her motor vehicle prior to the date at which such license shall expire or purchase or acquire a replacement motor vehicle, it shall be the duty of said owner or operator to make proper application for such transfer and, upon payment of a fee as set out in the fee schedule, the Finance Clerk shall transfer such license to the owner or operator.
(B) In the event that the new motor vehicle so purchased or acquired shall be of a class upon which the payment of a greater fee is required by this subchapter, before such transfer shall become effective, such owner or operator shall pay the difference between the amount previously paid and the amount due upon the vehicle so purchased; provided, that if the transfer is made after the expiration of six months of the license year, one-half of the difference between said amounts shall be paid.
(Prior Code, § 40-2-1010) (Ord. 1259, passed 10-17-1981)