In the event an owner sells or transfers title to a taxicab or vehicle for which a license has been issued, or in the event said vehicle has been destroyed, said owner is entitled as a matter of right to have a new license issued for the taxicab or vehicle replacing the one so sold or transferred upon proper application to the City Clerk within 45 days after such sale, transfer or destruction. If a vehicle is withdrawn from service for a period of 45 days without written permission being first secured from the City Manager, the license for such vehicle shall be automatically canceled and the certificate shall be reduced by one or more, as the case may be.