senate Bill S6983

2015-2016 Legislative Session

Regulates multilevel distribution companies

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Consumer Protection Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 11, 2016 referred to consumer protection

S6983 (ACTIVE) - Details

Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Add Art 32-A ยงยง676 - 677-e, Gen Bus L

S6983 (ACTIVE) - Summary

Regulates the conducting of business of multilevel distribution companies and their participants; grants the department of law the authority to regulate and oversee the operation of such companies.

S6983 (ACTIVE) - Sponsor Memo

S6983 (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6983

                            I N  S E N A T E

                             March 11, 2016
                               ___________

Introduced  by  Sen.  KLEIN  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Consumer Protection

AN ACT to amend the general business  law,  in  relation  to  regulating
  multilevel distribution companies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general business law is amended by adding a new article
32-A to read as follows:
                               ARTICLE 32-A
                         MULTILEVEL DISTRIBUTION
                                COMPANIES
SECTION 676. DEFINITIONS.
        677. DISCLOSURE REQUIREMENTS.
        677-A. CONTRACT REQUIREMENTS.
        677-B. RECRUITMENT AND SALES MATERIALS.
        677-C. SUPERVISION.
        677-D. PENALTIES.
        677-E. RULES AND REGULATIONS.
  S 676. DEFINITIONS. AS USED IN THIS ARTICLE:
  1. "DEPARTMENT" MEANS THE DEPARTMENT OF LAW.
  2. "MULTILEVEL DISTRIBUTION COMPANY" MEANS ANY PERSON, FIRM,  PARTNER-
SHIP,  LIMITED  LIABILITY  COMPANY, CORPORATION OR OTHER BUSINESS ENTITY
WHICH SELLS, DISTRIBUTES OR SUPPLIES FOR VALUABLE CONSIDERATION GOODS OR
SERVICES THROUGH INDEPENDENT  AGENTS,  CONTRACTORS  OR  DISTRIBUTORS  AT
DIFFERENT LEVELS:
  (A)  WHEREBY SUCH INDEPENDENT AGENTS, CONTRACTORS AND DISTRIBUTORS MAY
RECRUIT PROSPECTIVE INDEPENDENT AGENTS,  CONTRACTORS  AND  DISTRIBUTORS;
AND
  (B)  WHEREIN  COMMISSIONS,  BONUSES,  REFUNDS, DISCOUNTS, DIVIDENDS OR
OTHER CONSIDERATIONS ARE OR MAY BE  PAID  TO  SUCH  INDEPENDENT  AGENTS,
CONTRACTORS  AND  DISTRIBUTORS  FOR  THE SALE OF SUCH GOODS AND SERVICES
AND/OR FOR THE RECRUITMENT, ACTIONS OR PERFORMANCE OF OTHER  INDEPENDENT
AGENTS, CONTRACTORS AND DISTRIBUTORS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14587-02-6

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