City of South Amboy, NJ Article VII Distress Sales

§ 88-40 Types of sales included.

A. The license for distress sales shall include sales designated as follows:

(1) Insurance.

(2) Bankruptcy.

(3) Mortgage.

(4) Insolvent.

(5) Assignees.

(6) Receivers.

(7) Trustees.

(8) Removal or closing out.

(9) Goods damaged by fire, smoke or water.

(10) Liquidation.

(11) Creditors.

(12) Loss of lease.

(13) Forced out of business.

B. Distress sales shall include the sale by anyone of the goods, wares, chattels or merchandise of another and/or any and all sales advertised in such manner as to reasonably convey to the public that such sale or sales are anticipatory to the termination, closing, liquidation, windup, discontinuance, conclusion or abandonment of the business in connection with the sales or sale and that upon the disposal of the stock of goods on hand the business shall cease and be discontinued.

§ 88-41 Application for license.

The application for a distress sale license shall, in addition to the requirements of Article I, contain the following information:

A. A description of the place in which the proposed sale is to be held.

B. The nature of the occupancy of such place, whether by lease or sublease, and the effective date of the termination of occupancy.

C. The true name of the owner of the goods to be offered for sale.

D. The name of the operator of the sale if the operator is other than the true owner of the goods proposed to be sold.

E. A full and complete itemized inventory of the quantity, kind and character of the goods to be offered for sale, which shall include a listing of all goods which have been in stock prior to the application for license; a listing of all goods which have been ordered and will be placed in stock during the pendency of the sale; the place where such stock was purchased or acquired; and if not purchased, the manner of acquisition and the reason for the urgent and expeditious disposal of such goods.

§ 88-42 Term of license.

The license shall be valid for not more than 60 days and shall not be renewed, nor shall any other such license be granted to the same person for a period of one year succeeding the expiration of the previous license. A duplicate original of the application and inventory pursuant to which the license was granted shall be available at all times to the investigators of the city; and the licensee shall permit such investigators to examine all merchandise on the premises for comparison with the inventory. In the event that the sale or sales extend beyond 30 days, the inventory attached to the application shall be revised on or before the expiration of the thirty-day period, and the items on the list disposed of during the period shall be noted thereon. Suitable books and records shall be kept by the licensee and shall be available at all times to investigators of the city.

§ 88-43 Adding to inventory.

No licensee shall add to and include in any distress sale any goods, wares, merchandise, or chattels other than those which are listed in the inventory filed with the application.