SB123 SFAT #1 Romano 2-26

Skinner 7816

Senator Romano moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. Com. Sub. for Senate Bill 123 — A BILL to amend and reenact §47-15-1, §47-15-2, and §47-15-5 of the Code of West Virginia, 1931, as amended, all relating to pyramid promotional schemes; defining terms; prohibiting pyramid promotional schemes; allowing certain plans or operations which do not cause inventory loading and implement a bona fide inventory repurchase program; specifying requirements for recruiting literature, sales manuals, and contracts; providing that a bona fide inventory repurchase program is not required to apply to certain inventory; requiring certain disclosures; providing an affirmative defense to criminal sanctions.

Adopted

Rejected