Before issuing an auctioneer's license to any individual applying therefor, the city license supervisor shall refer the application to the chief of police, who shall cause to be made such investigation of the applicant's moral character and business responsibility as the chief of police deems necessary for the protection of the public good, except that the city license supervisor may waive this requirement with respect to an application for renewal of an auctioneer's license by any individual holding an unexpired auctioneer's license issued under this chapter if an investigation of such applicant's moral character and business responsibility has previously been made under this section in connection with a prior application for an auctioneer's license under this chapter. The chief of police shall cause the investigation herein provided for to be made within a reasonable time and shall certify to the city license supervisor whether or not the moral character and business responsibility of the applicant is satisfactory. (Prior code § 20-5-7)