New law allows Oklahomans to experience true ‘Black Friday’
OKLAHOMA – Senate Bill 550 will now allow Oklahomans to take advantage of what ‘Black Friday’ is really about.
The bill will allow retailers to set whatever price they like for items.
The Senate Bill 550 was signed into law by Governor Mary Fallin during the 2013 legislative session.
It took effect Nov. 1 allowing Oklahomans to take advantage of what ‘Black Friday’ really has to offer.
“It means Oklahomans will enjoy the same low prices as consumers in 48 other states, and their hard-earned dollars will go farther this Christmas,” Senator David Holt said.
Under the new law retailers can sell products at any price below their cost up to 15 days in a row on a specific product, up to 10 times a year.
Under the old law, retailers were required to sell products for at least 6 percent more than they paid for on all products.