Indiana Code 24-13-5-1. Circumstances under which this article may not be construed to prohibit a plan or operation as a pyramid promotional scheme
Current as of: 2024 | Check for updates
|
Other versions
Sec. 1. This article may not be construed to prohibit a plan or operation, or to define a plan or operation as a pyramid promotional scheme, based on the fact that participants in the plan or operation give consideration in return for the right to receive compensation based upon purchases of goods, services, or intangible property by participants for personal use, consumption, or resale if both of the following conditions are satisfied:
(2) The plan or operation implements an appropriate inventory repurchase program.
(1) The plan or operation does not promote or induce inventory loading.
Terms Used In Indiana Code 24-13-5-1
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
As added by P.L.105-2017, SEC.3.