No licensee, acting either for himself or by or through is agent or employee, shall wreck, tear down, paint or otherwise destroy the identity of, dispose of or allow to be taken out of his possession any secondhand motor vehicle, part or accessory purchased or otherwise acquired, or left for sale with him, until forty-eight hours after the report provided for in Section 828.24 has been made to the Chief of Police. The Chief of Police may, after proper report is made to him, grant a special written permit to a licensee permitting a secondhand motor vehicle, part or accessory described in such permit to be sold or disposed of and delivered to another when he has investigated and determined that there is no question as to the ownership of such vehicle, part or accessory.
(1956 Code Sec. 551.25)