§60-8-22. Sales on credit prohibited; exception.
It shall be unlawful for a distributor to sell or offer to
sell, or a retailer to purchase or receive, any wine except on a
cash basis and no right of action exists to collect any claims for
credit extended contrary to the provisions of this subdivision:
Provided, That nothing herein prohibits, as a credit on any
subsequent sale, the crediting of the purchase price charged for
wine returned by the purchaser because of damage, spoilage,
erroneous shipments or orders and other such reasons customary in
the trade: Provided, however, That a distributor may accept an
electronic transfer of funds if the transfer of funds is initiated
by an irrevocable payment order on the invoiced amount for the
wine. The cost of the electronic fund transfer must be borne by
the retailer and the distributor must initiate the transfer no
later than noon of one business day after the delivery.