(A) Whenever the owner of a bicycle licensed pursuant to this chapter sells or otherwise disposes of such bicycles, he shall within 10 days notify the Chief of Police of such disposition.
(B) Any person who purchases or otherwise acquires possession of a bicycle shall within 10 days of taking possession apply for the transfer of license to his name.
(C) Upon receipt of such notification, the Chief of Police shall examine the records to determine whether or not a valid license has been issued and, if so, shall record the transfer or change of possession in the city records. If a valid license has not been issued, the applicant shall be notified that application must be made for the issuance of a valid license.
('81 Code, § 10.40.100) Penalty, see § 73.99