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 pyramid promotional scheme nor is it a defense under this article that a participant, on giving consideration, obtains any goods, services or intangible property in addition to the right to receive compensation.
History: 1978 Comp., § 57-13-3, enacted by Laws 1987, ch. 100, § 3.
ANNOTATIONSRepeals and reenactments. — Laws 1987, ch. 100, § 3 repealed former 57-13-3 NMSA 1978, as enacted by Laws 1973, ch. 377, § 3, and enacted a new section, effective June 19, 1987.