Reference is to the bill as introduced.
Amend the bill, as and if amended, page 1, beginning on line 35, by striking Section 39-5-720, as contained in SECTION 1 and inserting:
/ Section 39-5-720.
As used in this article:
(1) 'Compensation'
means the payment of money, a thing of value, or a benefit.
(2) 'Consideration'
means either the payment of money or the provision of a thing of
value for the purchase of a product, good, service, or
intangible property. Consideration does not include:
(a)
the purchase of a product, furnished at cost, for use in
making a sale, but not for resale, of the purchased product
itself; or
(b)
time and effort spent to pursue a sale or recruiting
activity.
(3) 'Pyramid
promotional scheme' means a plan or operation in which an
individual pays consideration for the right to receive
compensation based primarily upon recruiting other individuals
into the plan or operation instead of selling products or
services to ultimate users for their use or consumption.
(4) 'Ultimate users'
are individuals who consume or use the products or services,
whether or not they are participants in the plan or operation.
/
Renumber sections to conform.
Amend title to conform.