Ohio Code 1333.91 – Pyramid promotional scheme definitions
As used in sections 1333.91 to 1333.94 of the Revised Code:
Terms Used In Ohio Code 1333.91
- anything of value: includes :
(A) Money, bank bills or notes, United States treasury notes, and other bills, bonds, or notes issued by lawful authority and intended to pass and circulate as money;
(B) Goods and chattels;
(C) Promissory notes, bills of exchange, orders, drafts, warrants, checks, or bonds given for the payment of money;
(D) Receipts given for the payment of money or other property;
(E) Rights in action;
(F) Things which savor of the realty and are, at the time they are taken, a part of the freehold, whether they are of the substance or produce thereof or affixed thereto, although there may be no interval between the severing and taking away;
(G) Any interest in realty, including fee simple and partial interests, present and future, contingent or vested interests, beneficial interests, leasehold interests, and any other interest in realty;
(H) Any promise of future employment;
(I) Every other thing of value. See Ohio Code 1.03
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
(A) “Pyramid promotional scheme” means any plan or operation by which individuals pay consideration for the chance or opportunity to receive compensation that is derived primarily from recruiting other individuals into the plan or operation rather than from the sale of products or services to ultimate users or from the consumption or use of products or services by ultimate users.
(B) “Compensation” means money, financial benefit, or anything of value. Compensation does not include payment based upon sales made to persons who are not participants in a pyramid promotional scheme, and who are not purchasing in order to participate in the plan or operation.
(C) “Consideration” means the payment of money or anything of value or the purchase of products, services, or intangible property. The term does not include:
(1) Payment for sales demonstration equipment and materials furnished at cost for use in making sales and not for resale;
(2) Any time or effort spent in pursuit of sales or recruiting activities.
(D) “Ultimate user” means an individual who consumes or uses a product or service, whether or not the individual is a participant in the plan or operation.