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2008 SESSION

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HB 990 Pyramid promotional schemes; definition thereof, penalty.

Introduced by: Robert B. Bell, III | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Pyramid promotional schemes; penalty. Revises the definition of "pyramid promotional scheme," "compensation," and "consideration" and provides that in addition to the Class 1 misdemeanor for contriving, preparing, setting up, operating, advertising or promoting a pyramid promotional scheme, such activity constitutes a prohibited practice under the Virginia Consumer Protection Act. This bill is identical to SB 95.

SUMMARY AS PASSED HOUSE:

Definition of pyramid promotional schemes; penalty.  Redefines activities described as "pyramid promotional schemes".  The bill also includes pyramid schemes among prohibited consumer practices.

SUMMARY AS INTRODUCED:

Definition of pyramid promotional schemes; penalty.  Clearly defines activities described as "pyramid promotional schemes" and punishes any person who establishes, promotes, operates, or participates in any pyramid promotional scheme with a Class 1 misdemeanor penalty. Currently, participation in such a scheme is not a crime.