Any owner of a medallion which is lost, destroyed, stolen, or involuntarily mutilated shall report such incident to the Taxicab Commission promptly after discovery of such happening. Such report shall be made by sworn declaration under penalty of perjury and the owner shall state the circumstances in which the medallion was lost, destroyed, stolen, or involuntarily mutilated as the case may be. All information known to the owner, such as the names of witnesses, which would be helpful in recovering the medallion if lost or stolen shall be stated in the declaration. The Taxicab Commission shall enter such incident in the Registry of Medallions and not allow any further transactions on the medallion for twenty days thereafter or until the medallion is recovered whichever is less. If, in the time allotted, the medallion is not recovered, the Taxicab Commission may issue a duplicate thereof. If the medallion is involuntarily mutilated the Taxicab Commission shall issue a duplicate promptly after presentation of the mutilated medallion. In each case in which a duplicate is issued, that fact shall be noted in the register of medallions and the owner shall be charged twenty-five dollars.