§47-11B-1. Legislative findings.
The Legislature hereby finds and declares that certain sales
of goods, defined in this article as "closing-out sales,""sales
of goods damaged by fire, smoke or water" or "defunct business
sales" have heretofore often been advertised and conducted in
such manner as to mislead and defraud the public or otherwise
harm the public and that such sales should be licensed and
regulated to prevent misrepresentation and fraud and to protect
and promote the public welfare.