Sec. 21-35m. Promoters must register with commissioner. Applications for registration. Fee. Renewal. Agreement between promoter and closing-out sale licensee. Suspension or revocation of registration. Civil penalty.
264 words·~1 min read·
/ct/title-21/chapter-407a-closing-out-sales/21-35m·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)No person shall act as a promoter, as defined in section 21-35a , for any closing-out sale unless he has first registered with the commissioner. Applications for registration and for the renewal of a registration shall be in writing, under oath in the form prescribed by the commissioner and shall be accompanied by a fee of two hundred dollars. The application shall contain such information as the commissioner shall require. Each registration shall be valid for one year and may be renewed for additional one-year periods.
(b)Each agreement between a promoter and a closing-out sale licensee shall:
(1)Be in writing;
(2)contain the date of the agreement;
(3)contain the entire agreement between the promoter and licensee;
(4)contain the name and address of the promoter; and
(5)be signed by both parties.
(c)The commissioner, after providing notice and conducting a hearing in accordance with the provisions of chapter 54, may revoke or suspend the registration of any person as a promoter for
(1)conduct of a character likely to mislead, deceive or defraud the public or the commissioner;
(2)engaging in any untruthful or misleading advertising; or
(3)violating any provision of this chapter relating to closing-out sales or any regulation established pursuant to section 21-35i or 42-110b . In addition, the commissioner, after providing notice and conducting a hearing in accordance with the provisions of chapter 54 may impose a civil penalty of not more than five hundred dollars for each offense. Each violation with respect to each separate item of merchandise shall be deemed a separate offense.