(a) Each person who advertises or represents the existence of a discount, reduction or savings shall for three months maintain records demonstrating compliance with this part at his principal place of business within the City of New York or at a location where such records are normally maintained by such person.
Example: An advertiser who advertises "20 percent off Brand X cameras" must maintain records demonstrating that the reduction is from the bona fide selling price. If the cameras were last sold at such lower price eleven months ago, the advertiser must retain the records indicating the earlier price. These records must be kept for a period of three months after the sale is over.
(b) Where the Commissioner of Consumer Affairs or her delegate requests a person to produce by mail information or records to demonstrate compliance with this part, and the information, or original, carbon, photographic or electrostatic copies of the records are available in the company's files, the person shall mail a copy of such information to the person requesting it within seven business days after receipt of the request unless such time period is extended by the Chief of the Law Enforcement Division. Where the information is available to the person but not in his possession, or where the record must be reconstructed (e.g., where they have been stored in the memory bank of a computer), the person shall mail a copy of such information to the person requesting it within a reasonable period of time, not to exceed sixty business days, after receipt of the request unless such time period is extended by the Chief of the Law Enforcement Division. In lieu of mailing requested information or records to the Commissioner, a person may grant access to the files for purpose of examination and to copy documentary evidence by advising the Commissioner in writing within 5 business days after receipt of the request that such access will be granted provided the information or records are kept in New York City.