Under existing law, it is a deceptive trade practice for a person to sell or offer to sell a right to participate in a pyramid sales structure, which are plans for the sale or distribution of goods, services, or other property in which a person, for consideration, acquires the opportunity to receive a pecuniary benefit, which is based primarily upon the inducement of additional persons by that person and others, regardless of number, to participate in the same plan or operation, and is not primarily contingent on the volume or quantity of goods, services, or other property sold or distributed
This bill would further provide for the prohibition against pyramid sales structures by excluding plans that include a bona fide inventory repurchase program and would provide requirements for bona fide inventory repurchase programs
Relating to deceptive trade practices; to amend Sections 8-19-3 and 8-19-5, Code of Alabama 1975, to provide further for the prohibition against pyramid sales structures.
|March 12, 2020||S||Pending third reading on day 13 Favorable from Judiciary|
|March 12, 2020||S||Read for the second time and placed on the calendar|
|February 20, 2020||S||Read for the first time and referred to the Senate committee on Judiciary|
|Hearing||March 11, 2020||Committee Room 325 at 08:30||Senate JUDY Hearing|
|Bill Text||SB224 Alabama 2020 Session - Introduced|