Indiana Code 24-5-8-11. Initial cash payment
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Terms Used In Indiana Code 24-5-8-11
- Initial cash payment: means that portion of the initial payment that the investor is obligated to pay to the seller before or at the time of delivery of goods or services. See Indiana Code 24-5-8-1
- Initial payment: means the total amount an investor is obligated to pay under the terms of the contract before or at the time of delivery of the goods or services to the investor or within six (6) months of the date that the investor commences operation of the business. See Indiana Code 24-5-8-1
- Seller: means a person, or his agent, who sells or leases or offers to sell or lease a business opportunity. See Indiana Code 24-5-8-1
Sec. 11. A seller may not require an initial cash payment that exceeds twenty percent (20%) of the initial payment.
As added by P.L.134-1984, SEC.1.