(a) No person, firm, corporation, partnership or association shall sell, offer for sale or advertise items of merchandise for sale at a discount from the normal retail price without offering a written voucher, commonly referred to as a “rain check”, for sale items which become out of stock during an advertised sale period unless: (1) Such items are motor vehicles; (2) such items are clothing or footwear, which are seasonal in nature and the stock of which cannot be replenished or which are sized to fit; (3) such discount is applicable throughout a store or throughout any department in a store; (4) all advertisements for sale clearly indicate the quantity of items available at the sale price and clearly state that no rain checks are offered; (5) such items are alcoholic beverages; (6) such items are offered for sale as part of a clearance, permanent markdown or closeout sale; or (7) a customer accepts a comparable discount on a comparable item.

(b) The holder of a rain check shall be notified by the issuer when the sale item is in stock and shall have at least ten days after notification to purchase the item at the sale price, except that a retail food store shall not be required to notify such holder when the sale item is in stock. No person shall be entitled to receive a greater number of rain checks per item than is allowed under the retailer’s advertised limit. If a rain check is not redeemed by the retailer within sixty days after its issuance, the retailer shall offer the holder of a rain check similar or comparable merchandise at or below the advertised sale price of the merchandise which was the subject of the sale. If the holder of a rain check wishes to purchase such similar or comparable merchandise, he shall do so within ten days of the retailer’s offer to substitute comparable merchandise.