§ 59.1-207.43 Use of certain terms in advertising former or comparison prices
A. No supplier shall advertise a former or comparison price in terms of “market value,” “valued at” or words of similar import unless such price is the price at which the goods or services, or goods or services of substantially the same kind, quality or quantity, are offered for sale by a reasonable number of suppliers in the supplier’s trade area.
B. A supplier may advertise a former or comparison price in terms of “manufacturer’s suggested price,” “suggested retail price,” “list price,” or words of similar import provided that, with regard to such advertising, the use of the former or comparison price complies with 15 U.S.C. § 45 (a) (1) and the regulations of the Federal Trade Commission adopted thereunder.
History
This law was first created in 1992. The record of its establishment is cataloged in chapter 768 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1992 “Acts” aren’t available online.
1992, c. 768.