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AN ORDINANCE TO A~END lIKE CODE OF THE CITY OF PORTSMOUR}I, VIR- <br /> <br />GINIA, 1951, BY ADDING TO CHAPTER $ THEgEOF ARTICLE IX~ CONSiST- <br /> <br />ING OF SECTIONS 8-91 THROUGH 8-9?, INCLUSIVE, DEFINING BANKRUPTCY, <br />CLOSING OUT AND FIRE SALES, I~,~OSING A LICENSE THEREFOR. PF~ESCRIB- <br />ING REGULATIONS PERTAINING THERETO AND PROVIDING PENALTIES FOR VIOLA- <br />TIONS THEREOF. <br /> <br /> Be it ordained by the Council of the City of Portsmouth, ¥irginia~ that <br />Chapter 8 of the Code of the City of Portsmouth, Virginia, 1951, be amended by <br />adding thereto Article IX, consisting of Sections 8-91 through 8-97, inclusive, <br />to read as follows: <br /> <br />ARTICLE IX <br /> <br />Section 8-91. Definitions. <br /> <br /> For the purposes of this article the following Terms, phrases and words <br />shall have the meaning given herein. <br /> <br /> (a) "Bankruptcy~ closing out and fire sales" are sales held out in <br />such a m~nner as To reasonably cause the public ~o believe; <br /> <br />(1) That the sale will offer goods damaged or altered by <br />fire, smoke~ water or other means; or <br /> <br />(2) that upon disposal of the stock of goods on hand the <br />business will cease and be discontinued, including but not <br />limited to the following sales: adjustor's, adjusLmenT. <br />alteration, assignee's, bankrupt, benefit of administrator's, <br />benefit oi creditor's~ benefit of trustee's, building coming <br />down, closing~ creditor's commmttee, creditor's end, executor <br />fir~I days, forced ouL, forced out of busiL~s, insolvent's, <br />last days, lease expires~ liquidation, loss of tease~ mortgag~ <br />sale~ receiver's, trussee's: quitting business; or <br /> <br />(3) that the person conducting the sale will cease and dis- <br />continue business at the place of sale upon disposal of the <br />stock of goods on hand and will then move to resume business <br />at a new location in the city or will then continue business <br />from other existing locations in the city. <br /> <br /> (b) "Goods" is meant to include any goods, wares, merchandise or other <br />property capable of being the object of a sale regulated hereunder° <br /> <br /> (c) "Person" is any person, firm, partnership, association, corporation, <br />c~mpany or organization of any kind, <br /> <br /> <br />