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(a) The provisions of Section 1267 shall not apply to any bona fide sale of a stock of merchandise where the owner thereof or the creditors of the owner are engaged in a legitimate and final closing out of the business, and such sale is on the premises where the business has been carried on for not less than one year immediately preceding such sale; provided, however, that no closing-out sale shall be conducted under the provisions of this Section unless a permit is first obtained from the Chief of Police.
(b) If the Chief of Police finds and determines that said sale and the business proposed to be closed out meet all the requirements of Subsection (a) hereof he shall grant the permit applied for.
If the Chief of Police finds that the owner has not carried on the business on the same premises for a period of one year immediately preceding the sale but that the said owner has continuously conducted the same business in the City and County of San Francisco for a period of not less than one year immediately preceding the sale and that the other requirements of Subsection (a) are satisfied, he may, within his discretion, grant the said permit.
(c) The Chief of Police may designate the number of days that the said closing-out sale may be conducted and in no case shall the sale be advertised and represented as a closing-out sale for a period longer than 90 calendar days at any time; provided, that in no event shall any stock of merchandise be offered for sale or sold at said closing-out sale unless the same has been upon the premises of the owner for a period of not less than 90 days prior to filing of the application for the permit.
(d) Any advertising relating to said closing-out sale must include the number of the permit obtained from the Chief of Police.
(Added by Ord. 8032, Series of 1939, App. 7/22/53; amended by Ord. 212-88, App. 5/25/88)