RS 51:42

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RS 51:42

PART II-A. GOING-OUT-OF-BUSINESS SALES

§42. Definitions

For purposes of this Part, the following terms shall have the meanings specified in this Section:

(1)"Going-out-of-business sale" means any sale advertised, represented, or held forth as a sale to dispose of all goods as a means of ceasing to do business or changing business location. The term shall include a sale held under the designation of "going-out-of-business", "selling out", "liquidation", "lost our lease", "forced to vacate", "moving to a new location", "closing out sale", "store closing sale", or any other designation of like meaning. However, the term shall not include an end-of-the-season sale or a going-out-of-business sale limited to sale of a particular brand or line of goods.

(2)"Goods" means goods, wares, or merchandise.

(3)"Person" means an individual, partnership, voluntary association, or corporation.

(4)"Promoter" means a person who performs or offers to perform any service to facilitate or assist in a going-out-of-business sale, including but not limited to advertising and sales.

Acts 1995, No. 669, §1; Acts 2018, No. 374, §1, eff. July 1, 2018.