As used in this subchapter, unless the context otherwise requires: (1) “Going-out-of-business sale” means and includes all sales advertised, represented, or held under the designation of “going out of business”, “discontinuance of business”, “selling out”, “closing out”, “liquidation”, “lost our lease”, “must vacate”, “forced out”, or any other designation of similar meaning; and (2) “Person” […]
Any person conducting a going-out-of-business sale contrary to the provisions of this chapter who shall fail or refuse to comply with the requirements of this chapter or who shall violate any provision of this chapter shall be guilty of a Class A misdemeanor.
The provisions of this chapter shall not be applicable to any sale of goods, wares, or merchandise pursuant to any court order or direction nor to the sale of any goods, wares, or merchandise by any sheriff or other public official in the course of his or her official duties.
It is the duty of the sheriff and other law enforcement officers in each county and the prosecuting attorney for each county to enforce the provisions of this chapter.
No person shall advertise or offer for sale a stock of goods, wares, or merchandise as a going-out-of-business sale unless that person has first obtained a license to conduct the sale from the county clerk of the county in which he or she proposes to conduct the sale.
(a) The application for the license shall be in writing and under oath and shall be filed with the clerk at least fourteen (14) days prior to the opening date of the proposed sale. (b) The application shall show all the facts relating to the reasons and character of the sale, including the opening and […]
(a) The application shall also be accompanied by a cash bond or a corporate surety bond in the amount of two thousand dollars ($2,000) or five percent (5%) of the wholesale value of the goods proposed to be offered at the sale, whichever is lesser, and shall be in favor of the State of Arkansas. […]
(a) (1) Each license issued for the conduct of a going-out-of-business sale shall be valid for a period of sixty (60) days, but the county clerk may extend the license for an additional period, not to exceed thirty (30) days, upon proof by the licensee that the licensee has been unable to complete the sale […]
(a) (1) The county clerk in each county shall design and cause to be printed appropriate forms for applications for licenses and for the license certificates to be issued to applicants under this chapter. (2) The license certificate shall prominently display the beginning date and the ending date of the going-out-of-business sale. (b) The county […]
A person conducting a going-out-of-business sale licensed under the provisions of this chapter shall not, upon conclusion of the sale, continue to conduct a similar business at the same location or address at which the going-out-of-business sale was conducted.
(a) It is unlawful for any person, firm, corporation, association, or other business entity to falsely represent that the person or entity is going out of business or for any person or entity to misrepresent the ownership of a business for the purpose of or in connection with the conduct of a going-out-of-business sale. (b) […]
