(A)   When a person operating a motor-driven unit of any kind for which a license fee has been paid, sells or transfers the motor-driven unit for which a license fee has been paid, as required under this code, the decal shall be mutilated by the operator and upon proper application to the Village Clerk by exhibiting the initial receipt received by the operator for the transferred motor-driven unit, an additional license decal shall be issued.
   (B)   Should the purchaser of any such automobile, truck or motorcycle, lose, misplace or have stolen or destroyed his or her license decal, the purchaser may, upon application to the Village Clerk, and upon advising him or her that the license decal had been lost, misplaced, stolen or destroyed, and upon giving the Clerk, in writing, under oath, with his or her name signed thereto, all information known to him or her concerning the place and conditions under which the license decal was lost, misplaced, stolen or destroyed may receive a new license decal which shall be issued to the purchaser by the Village Clerk.
(1994 Code, § 39-1-5)