It is enacted by the General Assembly as follows:

SECTION 1. Section 6-27-9 of the General Laws in Chapter 6-27 entitled "Truth in Lending and Retail Sales" is hereby amended to read as follows:

{ADD 6-27-9. ADD} {DEL Cash sales -- Refunds. DEL} {ADD Retail sales -- Refunds. -- ADD} (a) Wherever a customer who has paid {DEL cash DEL} for an item, and who has in his or her possession a sales slip or other evidence that he or she has purchased the item in a retail outlet, returns the item, unused, within ten (10 business) days from the date of purchase, he or she shall be entitled to a refund in {DEL cash or check DEL} {ADD the same manner as paid ADD} in an amount equivalent to that paid at the time of sale unless he or she has been clearly informed otherwise by a poster placed at the point of display or at the cash register or at the store entrances.

(b) This section shall not apply to the sale of {ADD books, magazines or any publications, ADD} food, perishable items, merchandise which is substantially custom-made or custom-finished, items for internal consumption, and items sold "as is," or any items presently prohibited for refund {ADD , return, ADD} or exchange by a retailer by federal or state law or any rule or regulation promulgated by any state agency.

(c) Any person, corporation or entity, refusing or neglecting to post in accordance with sub section (a), shall be deemed guilty of a misdemeanor for each such violation and be punished by a fine of not less than five hundred dollars ($500) or more than one thousand dollars ($1,000).

SECTION 2. This act shall take effect upon passage.