(1) No person shall advertise or offer for sale a stock of goods, wares or merchandise under the description of closing-out sale, or a sale of goods, wares or merchandise damaged by fire, smoke, water or otherwise, unless he first shall have obtained a permit to conduct such sale from the chancery clerk of the county in which such sale is to take place; or if such sale is to take place within a municipality, said person shall apply for and procure such permit from the city clerk of the municipality. The applicant for such permit shall make to such clerk an application therefor in writing and under oath at least fourteen (14) days prior to the opening date of sale, showing all the facts relating to the reasons and character of such sale, including the opening and terminating dates of the proposed sale, a complete inventory of the goods, wares, or merchandise actually on hand in the place where such sale is to be conducted, and all details necessary to locate exactly and identify fully the goods, wares or merchandise to be sold; providing, however, that an application for a sale of goods, wares or merchandise damaged by fire, smoke, water or otherwise may be obtained within three (3) days prior to the opening date of the sale. The terminating date of such proposed sale shall be no later than seventy-five (75) days immediately following the date of such permit application.

(2) If such clerk shall be satisfied from said application that the proposed sale is of the character which the applicant desires to advertise and conduct, he shall issue a permit upon the application therefor, together with a bond, payable to the city, village or town in the penal sum of one thousand dollars ($1,000.00), conditioned upon compliance with Sections 75-65-1 through 75-65-17, to the applicant authorizing him to advertise and conduct a sale of the particular kind mentioned in the application. Any merchant who shall have been conducting a business in the same location where the sale is to be held for a period of not less than one (1) year, prior to the date of holding such sale, shall be exempted from the filing of the bond herein provided.

(3) Every city, town or village clerk to whom application is made shall endorse upon such application the date of its filing, and shall preserve the same as a record of his office, and shall make an abstract of the facts set forth in such application, and shall indicate whether the permit was granted or refused.

(4) Any person making a false statement in the application provided for in this section shall, upon conviction, be deemed guilty of perjury.