(1) It is unlawful for any person, firm, corporation, association, or other business entity to falsely represent that the person or entity is going out of business or for any person or entity to misrepresent the ownership of a business for the purpose of or in connection with the conduct of a going-out-of-business sale.
(2) Any going-out-of-business sale conducted in violation of this chapter shall constitute an unfair or deceptive act or practice as defined by the Deceptive Trade Practices Act, § 4-88-101 et seq.
(3) All remedies, penalties, and authority granted to the Attorney General under the Deceptive Trade Practices Act, § 4-88-101 et seq., shall be available to the Attorney General for the enforcement of this chapter.