8.840 Close-out Sales.
(1) For the purpose of this section, close-out sales shall mean any offer to sell to the public or sale to the public of goods, wares, or merchandise on the implied or direct representation that such sale is in anticipation of termination of a business at its present location, or that such sale is to include goods, wares, or merchandise previously obtained or derived from a sale by referee in bankruptcy, a receiver or an assignee for the benefit of creditors. Any sale advertised specifically or in substance to be, an "adjustment" sale, "creditor's" sale, "assignee's" sale, "adjuster's" sale, "must-vacate" sale, "quitting-business" sale, "receiver's" sale, "loss-of-lease" sale, "forced-out-of-business" sale, "removal" sale, or "liquidating" sale, shall be deemed a close-out sale within the meaning of this code, unless proven otherwise by the person conducting same. Any sale advertising specifically or in substance to be a "fire" sale or a sale of smoke-or-water damaged goods shall be deemed a close-out sale within the meaning of this code when such sale is not conducted by the person suffering the loss as the result of such damage.
(2) No person, whether as owner, employee or agent, shall continue in business for more than 90 days after the commencement of a close-out sale.
(3) No person, whether as owner, employee, or agent, shall conduct or engage in any business or in any trade at the same location where a close-out sale has been conducted less than one year previously:
(a) If such business or trade is conducted under the same marketing procedure as in the said category of business as the business or trade conducted at the time of the close-out sale as defined or listed in the most recent Department of Commerce Business Census report forms; and
(b) If such person was the owner or operators of the business or trade at the time of the close-out sale.
(4) Any person who violates this section, or who by fraud or misrepresentation aids another person in violating this section, shall be guilty of a violation.