a. When the owner of a licensed bicycle transfers or assigns his ownership or interest therein or when his ownership or interest is transferred by legal proceedings, the transferee, before operating or permitting the operating of such bicycle, shall first report the transfer to the Police Department. A charge of fifty cents shall be made for this transfer.

b. Every person who disposes of a bicycle, whether by sale, lease or otherwise, to any person other than a manufacturer or dealer, shall immediately give written notice of such sale or transfer to the Police Department, which notice shall contain the date of such transfer, the names and addresses of the transferee and the transferor, and such description of the bicycle as may be required, on a form which shall be provided by the Police Department. (Code 1962, § 11-10)