§48.  Issuance of license; term

A.  Upon application and payment of the deposit and license fee specified in R.S. 51:47, the consumer protection section shall issue a going-out-of-business sale license to an applicant.  Such license shall authorize the licensee to advertise and conduct the going-out-of-business sale specified in the application.  Such license shall expire ninety days from its date of issuance or on the termination date specified in the application for such license, whichever date occurs first.

B.  The licensee shall make all documentation concerning the goods to be included in such going-out-of-business sale available for inspection by representatives of the consumer protection section.  Such documentation shall include but not be limited to purchase orders and delivery statements.

C.  Each licensee shall include the number of its license to conduct a going-out-of-business sale and the expiration date of that license in any advertisement for such sale.  Each licensee shall also post such license in a conspicuous location at each point of sale.

D.  Each licensee shall file a monthly report with the consumer protection section, commencing one month from the opening date of the sale, on a form required by such section.  Such report shall enumerate all goods sold, transferred, or otherwise disposed of by the licensee or his agents, servants, or employees during that month pursuant to the going-out-of-business sale.

Acts 1995, No. 669, §1.