| (1) |
Terms Used In Utah Code 76-6a-104- Compensation: means money, money bonuses, overrides, prizes, or other real or personal property, tangible or intangible. See Utah Code 76-6a-101
- Contract: A legal written agreement that becomes binding when signed.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Person: includes a business trust, estate, trust, joint venture, or any other legal or commercial entity. See Utah Code 76-6a-101
- Plaintiff: The person who files the complaint in a civil lawsuit.
- 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. See Utah Code 76-6a-101
| (a) |
Any person giving consideration in connection with a pyramid scheme may, notwithstanding any agreement to the contrary, declare the person’s giving of consideration and the related sale or contract for sale void, and may bring a court action to recover the consideration. |
| (b) |
In an action brought under Subsection (1)(a), the court shall, in addition to any judgment awarded to the plaintiff, require the defendant to pay to the plaintiff interest as provided in Section 15-1-4, reasonable attorneys’ fees, and the costs of the action reduced by any compensation paid by the defendant to the plaintiff in connection with the pyramid scheme. |
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| (2) |
| (a) |
The rights, remedies, and penalties provided in this chapter are independent of and supplemental to each other and to any other right, remedy or penalty available in law or equity. |
| (b) |
Nothing contained in this chapter shall be construed to diminish or abrogate any other right, remedy or penalty. |
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Renumbered and Amended by Chapter 111, 2023 General Session
