King-Seeley Drill Press Chuck Removal

I want to replace the chuck on a King-Seeley (Craftsman) drill press and am not sure how to go about it. This is the best set of pictures I can find on the unit - "54
Above the chuck is a knurled collar w/ 2 recesses 180-degrees apart. The chuck is a Jacobson 1/2" w/ J33 mount. Does anyone have experience with this drill press or have a likely idea on how chuck removal would be accomplished?
I will appreciate any guidance on this.
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