As used in this chapter:
| (1) |
Terms Used In Utah Code 76-6a-101- Compensation: means money, money bonuses, overrides, prizes, or other real or personal property, tangible or intangible. See Utah Code 76-6a-101
- Person: includes a business trust, estate, trust, joint venture, or any other legal or commercial entity. See Utah Code 76-6a-101
- Property: includes both real and personal property. See Utah Code 68-3-12.5
| (a) |
| (i) |
“Compensation” means money, money bonuses, overrides, prizes, or other real or personal property, tangible or intangible. |
| (ii) |
“Compensation” does not include payment based on the sale of goods or services to anyone purchasing the goods or services for actual personal use or consumption. |
|
| (b) |
“Consideration” does not include:
| (i) |
payment for sales demonstration equipment or materials furnished at cost for use in making sales and not for resale; or |
| (ii) |
time or effort spent in selling or recruiting activities. |
|
| (c) |
“Person” includes a business trust, estate, trust, joint venture, or any other legal or commercial entity. |
| (d) |
“Pyramid scheme” means any sales device or plan under which a person gives consideration to another person in exchange for compensation or the right to receive compensation that is derived primarily from the introduction of other persons into the sales device or plan rather than from the sale of goods, services, or other property. |
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| (2) |
Terms defined in Section 76-1-101.5 apply to this part. |
Renumbered and Amended by Chapter 111, 2023 General Session
