[Code 1993, § 12.15(1)]
No person shall conduct, within the Village, a closing out sale of merchandise, except as provided in this article. Every person shall obtain a Village license before retailing or advertising for retail any merchandise represented to be merchandise of a bankrupt, insolvent, assignee, liquidator, adjuster, administrator, trustee, executor, receiver, wholesaler, jobber, manufacturer or any business that is in liquidation that is closing out, closing or disposing of its stock, or a particular part or department thereof, that has lost its lease, or has been, or is being, forced out of business, that is disposing of stock on hand because of damage by fire, water, smoke or other cause, or that, for any reason, is forced to dispose of stock on hand. Such license is denominated as a closing out sale license, and such sale as a closing out sale. Such license shall be obtained in advance if such advertisement or representation, expressed or implied, tends to lead people to believe that such sale is a selling out or closing out sale.
[Code 1993, § 12.15(2)]
Every person requiring a closing out sale license shall make an application, in writing, to the Clerk-Treasurer, on the form provided by the Clerk-Treasurer, and shall attach thereto an inventory containing a complete and accurate list of the stock of merchandise on hand to be sold at such sale, and shall have attached thereto an affidavit by the applicant or his duly authorized agent that the inventory is true and correct to the knowledge of the person making such affidavit. Such affidavit shall include the names and addresses of the principals, such as the partners, officers and directors and the principal stockholders and owners of the business, and of the inventoried merchandise. Such inventory shall contain the cost price of the respective articles enumerated on such inventory, together with the date of purchases and the identity of the seller. If the merchandise was purchased for a lump sum or other circumstances make the listing of the cost price for each article impracticable, such inventory shall state the lump sum paid for such merchandise and the circumstances of the purchase. Such application shall further specify the name and address of the applicant, and, if an agent, the person for whom he is acting as an agent, the place at which such sale is to be conducted and the time during which the proposed sale is to continue. Upon receipt of such application, the Clerk-Treasurer shall ascertain whether any personal property taxes are unpaid relating to applicant's place of business and before such application is granted, the personal property taxes shall be paid or arrangements made for such payment which are agreeable to the Clerk-Treasurer. The license shall specify the period for which it is granted, which time shall not exceed 60 successive days, except Sundays and legal holidays.
[Code 1993, § 12.15(3)]
The time during which the sale may be conducted may be extended by the Clerk-Treasurer if, at any time during the term of the license, a written application for such extension, duly verified by an affidavit of the applicant, is filed by such licensee with the Clerk-Treasurer. Such application shall state the amount of merchandise listed in the original inventory which has been sold, the amount which still remains for sale, and the time for which an extension is requested. No extension shall be granted if any merchandise has been added to the stock listed in the inventory since the date of the license, and the applicant shall satisfy the Clerk-Treasurer by affidavit or otherwise, as directed by him, that no merchandise has been added to the stock since the date of issuance of the license. The Clerk-Treasurer may grant or deny the application and, if granted, the period of the extension shall be determined by the Clerk-Treasurer, but shall not exceed 30 days from the expiration of the original license. If such extension is granted, the extension shall be issued by the Clerk-Treasurer upon the payment of an additional license fee per day for the time during which it is granted, as stated in § 46-431.
[Code 1993, § 12.15(4)]
No person shall sell or offer to expose for sale at any sale for which a license is required by this article any merchandise not listed in the inventory as required by § 46-322, except that any merchant may, in the regular course of business, conduct a closing out sale of merchandise and, at the same time, sell other merchandise, if the merchandise for the sale of which a license is required shall be distinguished by a tag or otherwise so that the merchandise of such class is readily ascertainable to prospective purchasers, and shall not label or tag other merchandise in a manner to indicate or lead a prospective purchaser to believe that such merchandise is of the class for which a license is required. Each article sold in violation of the provisions of this section shall constitute a separate offense, and any false or misleading statement in such inventory, application or extension application shall constitute a violation of this article.
[Code 1993, § 12.15(5)]
The Clerk-Treasurer shall verify the details of the inventory as filed in connection with an application for a license under this article and shall also verify the items of merchandise sold during any sale under such license, and no licensee shall refuse to furnish, on demand to the Clerk-Treasurer, or any person designated by him for such purpose, all the facts connected with the stock on hand or any other information that the Clerk-Treasurer or his designee may reasonably require in order to make a thorough investigation of all phases of such sale, as far as they relate to the rights of the public.
[Code 1993, § 12.15(7)]
This article shall not apply to sales by public officers or sales under judicial process.