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Sec. 6-3. Transfer of ownership.

It shall be unlawful for any person to sell or transfer ownership
of any bicycle without reporting to the chief of police
within forty-eight hours from the time thereof full, complete
information relative to such transfer, so that such bicycle
may be registered in the name of the transferee. The
purchaser or transferee of any such bicycle shall apply for a
transfer of registration therefor within five days from the
time the same is acquired by him. (Code 1959, § 6-3.)