A. Any person who advertises, represents, or holds out any sale of goods to be a going-out-of-business sale, and applies for an initial license, or an initial license and a supplemental license, pursuant to this Part, shall be deemed guilty of false advertising if the person continues to operate his business after the expiration date of the going-out-of-business sale license held.
B. Whoever violates this Section shall be fined not less than fifty dollars nor more than five hundred dollars, or imprisoned for not less than thirty days nor more than six months, or both.