620 – Legislative Intent.
§ 620. Legislative intent. 1. The legislature finds that there exists in connection with a number of contracts for health club services, sales practices and business and financing methods which may have resulted in deception and financial hardship upon the people of this state, that existing legal remedies are inadequate to correct these abuses; that […]
622 – Escrow Required.
§ 622. Escrow required. All moneys received by a seller pursuant to a contract for services for use by a buyer of a health club prior to the full operation of such health club shall be placed in escrow. 1. Such funds shall be kept and maintained in an account separate and apart from any […]
622-A – Bond, Letter of Credit or Certificate of Deposit Required.
§ 622-a. Bond, letter of credit or certificate of deposit required. 1. Every health club, except as provided in subdivision ten of this section, before it enters into any contract for services for use by a buyer of a health club, shall file and at all times maintain with the secretary, in form, amount as […]