Licenses may not be transferred from owner to owner, but, upon application therefor duly filed, may be transferred to other equipment upon payment of a fee of $1. Applications for the transfer shall be referred to the chief of the police department for investigation in the same manner as required in the case of an original application for a license, as set forth in § 111.08 of this chapter, and the license may thereafter be transferred to cover the substituted equipment upon finding that the proposed substitution of equipment is safe and that it complies with all requirements of this chapter and all ordinances of the city.
('68 Code, § 52.18) Penalty, see § 111.99