(a) Licenses may be transferred from one location to another, provided that the license is presented to the department of finance for approval of such transfer. Such transfer of license approved by the city treasurer will be made only after payment to the city of a fee up to ten percent of the annual license tax, but not less than $3.00 nor more than $25.00.

(b) No occupation license issued to a general contractor or subcontractor may be assigned or transferred from one person to another.