Immediately upon the sale of any motor vehicle licensed under this chapter, the vendor shall remove the Village license sticker or plate from the vehicle so sold. Such license shall cease to apply upon the sale of such vehicle. Any person who sells a motor vehicle licensed under this chapter may transfer such license to a different motor vehicle upon making application to the Village Manager giving such information as he or she may require, and paying a fee as set by the Village Council. In the event that the new vehicle to be so licensed shall be of a class requiring a greater fee under this chapter than that already paid, such owner shall pay the difference in fees before such transfer shall become effective, except that if the transfer is made after July 1
st
of the license year, one-half of the difference in such fees shall be paid.
(Prior code § 42.06)