Louisiana Revised Statutes 51:362 – Promoting pyramid promotional scheme unlawful
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Terms Used In Louisiana Revised Statutes 51:362
- Person: means an individual, a corporation, a partnership, or any association, or unincorporated organization. See Louisiana Revised Statutes 51:361
- Promote: means to contrive, direct, establish, or operate a pyramid promotional scheme. See Louisiana Revised Statutes 51:361
- Pyramid promotional scheme: means any plan or operation by which a participant gives consideration for the opportunity to receive compensation which is derived primarily from the person's introduction of other persons into a plan or operation rather than from the sale of goods, services, or intangible property by the participant or other persons introduced into the plan or operation. See Louisiana Revised Statutes 51:361
No person shall promote a pyramid promotional scheme in Louisiana or cause a pyramid promotional scheme to be promoted in Louisiana.
Acts 1997, No. 379, §1; Acts 2001, No. 837, §1.