§249-14.5  New bicycles and mopeds.  All
new bicycles and mopeds, otherwise requiring the payment of fees under section
249-14, held in stock for purposes of sale shall be exempt from the fee.  At
the time of first sale, the dealer selling the new bicycle or moped shall:



(1)  Require the buyer to complete a license
application form furnished by the director of finance;



(2)  Issue a copy of the completed form to the buyer;
and



(3)  Transmit a copy of the completed form to the
director of finance with the required fees which the dealer has collected from
the buyer.



Upon receipt of the fee and the completed license
application form, the director of finance shall mail a tag or decal and
certificate of registration to the registered owner.  Until the tag or decal is
received, the bicycle or moped owner shall keep a copy of the completed
application form upon the owner's person when riding the bicycle or moped on a
public street. [L 1974, c 105, pt of §2; am L 1978, c 175, §3; gen ch 1985; am
L 1988, c 264, §3]