§ 58-86. Interval between sales.

(a)

Any person who has held a sale, as regulated under this article, at the location stated in the application within one year last past from the date of the application shall not be granted a license.

(b)

Whenever any person who has commenced a sale under this article at the location stated in the application shall determine within the licensing period that due to circumstances beyond the person's reasonable control the person will be unable to discontinue the person's business as originally intended, the licensee shall immediately cease all advertising and notices of such sale and shall document the pertinent facts and transmit them in writing to the chief financial officer.

(c)

If the chief financial officer determines that the going out of business sale was undertaken in good faith and not completed due to circumstances beyond the reasonable control of the licensee, the chief financial officer may reinstate the gross receipts business license which was surrendered by the licensee to obtain a going out of business sale license. However, in such event the licensee shall forfeit any fee paid for the going out of business sale license and shall include all revenues received during the authorized term of the sale.

(Code 1977, § 14-5131)