37-26-1. Definition of terms. Terms used throughout this chapter unless the context plainly requires otherwise shall mean: (1)”Buying club,” any corporation, partnership, unincorporated association, or other business enterprise organized with the primary purpose of providing benefits to members from the cooperative purchase of services or merchandise; (2)”Club,” any buying club; (3)”Contract,” any written agreement by […]
37-26-10. Civil action for damages from violation of chapter–Equitable relief. In addition to the remedies otherwise provided by law, any person damaged by a violation of any of the provisions of this chapter may bring a civil action and recover damages, together with costs and disbursements, including reasonable attorney’s fees, and receive other equitable relief […]
37-26-11. Attorney general’s action for injunctive relief–Recovery of penalty for state–Maximum amount–Receivership–Disposition of civil penalties. The attorney general shall investigate violations of this chapter. If, from information in his possession there are reasonable grounds to believe that any person has violated or is about to violate any provisions of this chapter, or that any club […]
37-26-2. Fraudulent offer or sale of membership as felony. Any person who employs, directly or indirectly, any device, scheme, or artifice to defraud in connection with the offer or sale of any membership or engages, directly or indirectly, in any act, practice, or course of business which operates or would operate as a fraud or […]
37-26-3. Bond required of buying club–Amount. Every buying club shall maintain a cash bond or a bond issued by a surety company licensed to do business in this state in the penal sum of one hundred thousand dollars. Source: SL 1975, ch 246, §6.
37-26-4. Loss covered by bond–Filing and approval of bond–Action on bond. The bond required by §37-26-3 shall be in favor of the state for the benefit of any member who suffers loss of any prepayment made pursuant to a contract entered into after March 27, 1975, due to insolvency of the club or the cessation […]
37-26-5. Liability of surety limited to amount of bond. The aggregate liability of the surety to all persons for all breaches of the conditions of the bonds provided herein shall in no event exceed the amount of the bond. Source: SL 1975, ch 246, §9.
37-26-6. Exemption from bond requirements of clubs not receiving prepayment–Declaration filed. Sections 37-26-3 to 37-26-5, inclusive, do not apply to any club which files a declaration, executed under penalty of perjury by the owner or manager of such club, with the attorney general stating that the club does not require, or in the ordinary course […]
37-26-7. Violation of chapter as felony. Any person who intentionally violates any provisions of this chapter which is not otherwise classified is guilty of a Class 5 felony. Source: SL 1975, ch 246, §13; SL 1977, ch 190, §298.
37-26-8. Punishment under other criminal laws not prevented by chapter. Nothing in this chapter shall limit the power of this state to punish any person for any conduct which constitutes a crime under any other statute. Source: SL 1975, ch 246, §15.
37-26-9. Consumer protection avoidance period provisions applied. Notwithstanding any other provision of law, the avoidance period provisions as provided for in chapter 37-24 are applicable to contracts for membership under this chapter. Source: SL 1975, ch 246, §2.
