407.800. Going-out-of-business sales, requirements, limitations, extension--exceptions.

MISSOURI STATUTES AND CODES

407.800. Going-out-of-business sales, requirements, limitations, extension--exceptions.

Going-out-of-business sales, requirements, limitations,extension--exceptions.

407.800. Any person, except a licensed auctioneer as defined insection 343.010, RSMo, who advertises or conducts a going-out-of-businesssale or any sale of merchandise which indicates the person conducting thesale is terminating or liquidating the person's trade, commerce or businessfor any reason shall inform the attorney general, in writing, not less thanten days prior to the sale of the duration of the sale by indicating thefirst and last days of the sale. Any person who informs the attorneygeneral that the person is going to conduct a going-out-of-business saleshall submit to the attorney general information regarding the items whichwill be offered for sale during the going-out-of-business sale. Theinventory shall not be supplemented after the beginning of such sale. Thegoing-out-of-business sale shall not exceed a period of sixty days unlessan extension has been registered with the attorney general's office byaffidavit. Such affidavit shall indicate the duration of such extensionand the reasons therefor, and the time extension shall not exceed areasonable time period as determined by the attorney general based upon theinformation provided to the attorney general by the person conducting thesale. Any affidavit supporting the request for an extension shall describethe efforts made by the person and the person's plan to dispose of suchsale items, and shall state why the items remain unsold, and shall containany other information requested by the attorney general. A violation ofthis section shall be considered a violation of section 407.020 and shallbe remedied pursuant to section 407.100. If the attorney general fails totake action within one hundred twenty days after a violation of thissection occurs, the prosecuting attorney or circuit attorney of theappropriate jurisdiction may take action as provided in sections 407.020and 407.100.