(1) Except as provided in subsection (3) of this section, a person may not sell, offer for sale or advertise for sale merchandise at a going out of business sale unless the person has filed a notice of intent with the Secretary of State.
(2) A person must display a copy of the notice of intent filed with the Secretary of State in a prominent place on the premises where the going out of business sale is being conducted.
(3) If a going out of business sale is conducted as part of a bankruptcy, receivership or other court-ordered action, a person:
(a) Need not file a notice of intent with the Secretary of State.
(b) Shall display the court order or judgment ordering the sale in a prominent place on the premises where the going out of business sale is being conducted.
(4) A person may not:
(a) Conduct a going out of business sale for more than 90 days from the beginning date of the sale listed on the notice of intent.
(b) Continue to conduct a going out of business sale beyond the ending date listed on the notice of intent.
(5) A person who has conducted a going out of business sale may not conduct another going out of business sale for a period of one year after the ending date of the sale listed on the notice of intent. [2007 c.820 §2]
Section: Previous 646A.072 646A.080 646A.085 646A.090 646A.095 646A.097 646A.100 646A.102 646A.104 646A.106 646A.108 646A.110 646A.112 646A.120 646A.122 NextLast modified: August 7, 2008