Louisiana Revised Statutes 51:363 – Violations; penalties
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Terms Used In Louisiana Revised Statutes 51:363
- 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
Whoever promotes a pyramid promotional scheme in Louisiana or causes a pyramid promotional scheme to be promoted in Louisiana shall be fined not more than ten thousand dollars or imprisoned, with or without hard labor, for not more than ten years, or both.
Acts 1997, No. 379, §1; Acts 2001, No. 837, §1.