(a) It shall be the duty of every person who sells or transfers ownership of any bicycle to report such sale or transfer by returning to the Police Department the license certificates issued to such person as licensee thereof, together with the name and address of the person to whom such bicycle was sold or transferred, and such report shall be made within five days of the date of the sale or transfer.
(b) It shall be the duty of the purchaser or transferee of such bicycle, if the seller or transferor thereof is a person other than one engaged in the business of selling new or second-hand bicycles, within five days either to apply for a license therefor or to report the purchase or transfer to the Police Department. (1944 Code Ch. 5 §7.)