Section 445.2581 – Short Title.
445.2581 Short title. Sec. 1. This act shall be known and may be cited as the “pyramid promotional scheme act”. History: 2018, Act 186, Eff. Sept. 11, 2018
Section 445.2582 – Definitions.
445.2582 Definitions. Sec. 2. As used in this act: (a) “Compensation” means a payment of any money, thing of value, or financial benefit conferred in return for inducing an individual to participate in a pyramid promotional scheme. (b) “Consideration” means the payment of cash or anything of value or the purchase of goods, services, or […]
Section 445.2583 – Promotion or Participation in Pyramid Promotional Scheme; Prohibition; Penalties.
445.2583 Promotion or participation in pyramid promotional scheme; prohibition; penalties. Sec. 3. (1) A person shall not promote or participate in a pyramid promotional scheme. A limitation as to the number of individuals who may participate or the presence of additional conditions affecting eligibility for the opportunity to receive compensation under a plan or operation […]
Section 445.2584 – Reasonable Cause; Attorney General Duties; Cease and Desist Requirements; Circuit Court Review.
445.2584 Reasonable cause; attorney general duties; cease and desist requirements; circuit court review. Sec. 4. (1) If the attorney general has reasonable cause to believe that a person has engaged or is about to engage in any act or practice that violates this act, or any order issued under this act, the attorney general may […]
Section 445.2585 – Rebuttable Presumption.
445.2585 Rebuttable presumption. Sec. 5. There is a rebuttable presumption that a plan or operation is not a pyramid promotional scheme if both of the following conditions are satisfied: (a) The plan or operation does not cause inventory loading. (b) The plan or operation implements an inventory repurchase program. History: 2018, Act 186, Eff. Sept. […]
Section 445.2586 – Attorney General Investigation; Written Demand to Appear; Failure to Comply; Hearing; Confidentiality.
445.2586 Attorney general investigation; written demand to appear; failure to comply; hearing; confidentiality. Sec. 6. (1) If the attorney general has reasonable cause to believe that a person has information or is in possession, custody, or control of any document or other tangible object that is relevant to an investigation of a violation of this […]