Для того, чтобы обанкротившаяся компания смогла бы распродать свое имущество в счет покрытия долгов, она должна предварительно получить в городском совете лицензию на такую распродажу.

Sec. 5-4.01. Permits: Required.

It shall be unlawful for any person to advertise, represent, or hold out that any sale of goods, wares, or merchandise is an insurance, bankruptcy, liquidation, mortgage, insolvent's, assignee's, executor's, administrator's, receiver's, removal, or closing-out sale, or any particular department of such stock of goods, wares, or merchandise, under the guise of discontinuing business or discontinuing that particular department, or a sale of goods, wares, or merchandise damaged by fire, smoke, water, or otherwise, or a sale of goods from the stock of a bankrupt, receiver, trustee, insurance company, receivership, or trusteeship, or to conduct such sale unless he shall have first obtained a permit to conduct such sale from the City Manager.