§49. Restrictions and prohibitions

A. No person shall, in contemplation of conducting a going-out-of-business sale, order any goods for the purpose of selling or disposing of such goods at such sale. Any unusual purchases or additions to the stock of goods within sixty days prior to the filing of an application for a license to conduct a going-out-of-business sale shall be presumptive evidence that such purchases or additions to stock were made in contemplation of such sale.

B.(1) No goods other than those listed in the inventory specified in a license application for a going-out-of-business sale shall be included in a going-out-of-business sale.

(2) No going-out-of-business sale shall continue beyond the expiration date of the license to conduct such sale. However, the consumer protection section may authorize a licensee to extend a sale past the expiration date of the license upon proper showing of need. In order to qualify for such an extension, a licensee shall, at a minimum, submit a revised inventory to the consumer protection section. Such inventory shall list only those goods which were included in the inventory specified in the license application for that going-out-of-business sale and which remain unsold. Such listing shall not include any goods not so included.

C. No person shall, upon conclusion of a going-out-of-business sale, continue that business which has been represented as terminal under the same or a different name at the same location.

Acts 1995, No. 669, §1.