445.2583 Promotion or participation in pyramid promotional scheme; prohibition; penalties.
154 words·~1 min read·
/mi/chapter-445/445-2583A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
445.2583 Promotion or participation in pyramid promotional scheme; prohibition; penalties.
Sec. 3.
(1)A person shall not promote or participate in a pyramid promotional scheme. A limitation as to the number of individuals who may participate or the presence of additional conditions affecting eligibility for the opportunity to receive compensation under a plan or operation does not change the identity of the plan or operation as a pyramid promotional scheme.
(2)A person that promotes a pyramid promotional scheme is guilty of a felony punishable by 1 or more of the following:
(a)Imprisonment for not more than 7 years.
(b)A fine of not more than $10,000.00 per violation.
(3)A person that knowingly participates in a pyramid promotional scheme is guilty of a misdemeanor punishable by imprisonment for not more than 90 days or a fine of not more than $1,000.00, or both.
History: 2018, Act 186 , Eff. Sept. 11, 2018