New Mexico Statutes 57-13-3. Prohibition; defenses excluded
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A. A person shall not establish, operate, advertise or promote a pyramid promotional scheme.
Terms Used In New Mexico Statutes 57-13-3
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
B. A limitation as to the number of persons who may participate or the presence of additional conditions affecting eligibility for the opportunity to receive compensation under the plan or operation does not change the identity of the scheme as a pyramid promotional scheme nor is it a defense under this article that a participant, on giving consideration, obtains any goods, services or intangible property in addition to the right to receive compensation.