Chapter 57, Article 13 NMSA 1978 may be cited as the “Pyramid Promotional Schemes Act”. History: 1953 Comp., § 50-20-1, enacted by Laws 1973, ch. 377, § 1; 1987, ch. 100, § 1. ANNOTATIONS The 1987 amendment, effective June 19, 1987, substituted “Chapter 57, Article 13 NMSA 1978” for “This act” and “Pyramid Promotional Schemes […]
ANNOTATIONS Repeals. — Laws 1987, ch. 100, § 16, effective June 19, 1987, repealed 57-13-10 NMSA 1978, as enacted by Laws 1973, ch. 377, § 10, relating to registering of pyramid or multilevel sales companies with the attorney general and the designation of the secretary of state as their agent for service of process.
The attorney general is empowered to issue and file as required by law all regulations necessary to implement and enforce any provision of the Pyramid Promotional Schemes Act. A violation of these regulations shall be unlawful. History: 1953 Comp., § 50-20-11, enacted by Laws 1973, ch. 377, § 11; 1987, ch. 100, § 10. ANNOTATIONS […]
The Pyramid Promotional Schemes Act neither enlarges nor diminishes the rights of parties in private litigation. History: 1953 Comp., § 50-20-12, enacted by Laws 1973, ch. 377, § 12; 1987, ch. 100, § 11. ANNOTATIONS The 1987 amendment, effective June 19, 1987, substituted “Pyramid Promotional Schemes Act” for “Pyramid or Multilevel Sales Act.”
In order to promote the uniform administration of the Pyramid Promotional Schemes Act in New Mexico, the attorney general is to be responsible for its enforcement, but he may in appropriate cases delegate this authority to the district attorneys of the state, and, when this is done, the district attorneys shall have every power conferred […]
The Pyramid Promotional Schemes Act does not apply to publishers, broadcasters, printers or other persons engaged in the dissemination of information or reproduction of printed or pictorial matters who publish, broadcast or reproduce material without actual knowledge of its being in violation of that act. History: 1953 Comp., § 50-20-14, enacted by Laws 1973, ch. […]
Whenever the attorney general has reasonable belief that any person is using or is about to use any method, act or practice which is declared by the Pyramid Promotional Schemes Act to be unlawful, and whenever the attorney general has reasonable belief that any such person is about to remove himself from New Mexico, or […]
The court may require any such person to post a ne exeat bond conditioned on such person’s appearance at all hearings on the matter at issue. History: 1953 Comp., § 50-20-16, enacted by Laws 1973, ch. 377, § 16.
No such person shall be incarcerated for failure to post said ne exeat bond for longer than seventy-two hours, Sundays excepted, without the benefit of a hearing before the court setting said bond. Such hearing shall be held as soon as possible after incarceration. History: 1953 Comp., § 50-20-17, enacted by Laws 1973, ch. 377, […]
The sureties upon any bond, shall in all cases justify as to their sufficiency; and the clerk of the district court taking such bond shall certify his approval of the same, as to form and the manner of its execution and to the sufficiency of the sureties thereon. History: 1953 Comp., § 50-20-18, enacted by […]
As used in the Pyramid Promotional Schemes Act: A. “compensation” includes a payment based on a sale or distribution made to a person who either is a participant in a pyramid promotional scheme or has the right to become a participant upon payment; B. “consideration” means the payment of cash or the purchase of goods, […]
A. A person shall not establish, operate, advertise or promote a pyramid promotional scheme. B. A limitation as to the number of persons who may participate or the presence of additional conditions affecting eligibility for the opportunity to receive compensation under the plan or operation does not change the identity of the scheme as a […]
A. Whenever the attorney general has reasonable belief that any person is using, has used or is about to use any method, act or practice which is declared by the Pyramid Promotional Schemes Act to be unlawful and that proceedings would be in the public interest, he may bring an action in the name of […]
A. In lieu of beginning or continuing an action pursuant to the Pyramid Promotional Schemes Act, the attorney general may accept a written assurance of discontinuance of any practice in violation of that act from the person who has engaged in the unlawful practice. The attorney general may require an agreement by the person engaged […]
A. A person likely to be damaged by any method, act or practice which is declared by the Pyramid Promotional Schemes Act to be unlawful may be granted an injunction against it under the principles of equity and on terms that the court considers reasonable. Proof of monetary damage, loss of profits or intent to […]
Any person violating the Pyramid Promotional Schemes Act shall be deemed guilty of a fourth degree felony and shall be sentenced to a term of imprisonment pursuant to the provisions of Subsections A through C of Section 31-18-15 NMSA 1978 or fined not less than one thousand dollars ($1,000) or more than ten thousand dollars […]
A. All civil penalties collected under Section 57-13-4 NMSA 1978 shall be deposited in the state treasury in a fund to be designated as the “Pyramid Promotional Schemes Act restitution fund”, which fund is hereby established and which shall be administered by the attorney general. All expenditures from this fund shall be paid upon petition […]
A. Whenever the attorney general has reason to believe that any person may be in possession, custody or control of an original or copy of any book, record, report, memorandum, paper, communication, tabulation, map, chart, photograph, mechanical transcription or other tangible document or recording which he believes to be relevant to the subject matter of […]
