North Dakota Code 51-16.1-02 – Pyramid promotional schemes prohibited – Defenses excluded
Current as of: 2023 | Check for updates
|
Other versions
1. No person may establish, operate, advertise, or promote a pyramid promotional scheme.
Terms Used In North Dakota Code 51-16.1-02
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
2. It is not a defense to a criminal or civil prosecution under this section that:
a. The plan contains 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; or
b. A participant, on giving consideration, obtains any goods, services, or intangible property in addition to the right to receive compensation.