It shall be unlawful for any person to advertise a reference price based on sales of a comparable article unless:
a. The two articles are, in fact, substantially identical in all significant respects and such comparability can be established by reference to generally accepted standards of identity or performance or otherwise; and
b. The reference price of such comparable article is the actual price at which the article was offered to the public by the advertiser or by principal competing persons in the advertiser's trade area for a reasonably substantial period of time in the recent regular course of business, honestly and in good faith as determined by regulations adopted by the commissioner.
(Added Coun. J. 12-9-92, p. 25465; Amend Coun. J. 11-19-08, p. 47220, Art. V, §5; Amend Coun. J. 3-9-11, p. 113698, § 1)