Definitions
This part of the law explains what certain words mean for the rules about discount buying clubs. A 'buying club' is a business that lets people join together to get deals on goods or services. A 'member' is a person who gets those benefits. A 'prepayment' is money paid — more than fifty dollars — before getting any goods or services.
407.671. Definitions. — As used in sections 407.670 to 407.679, the following terms shall mean:
(1) "", any day other than a Saturday, Sunday, or ;
(2) "Buying ", "", or "club", any person, , , or other business enterprise operating for profit within the state of Missouri, the primary purpose of which is to provide benefits to members from the purchase of services or ;
(3) "Buyer" or "member", any status by which any is entitled to any of the benefits of a discount buying organization;
(4) "Contract", any written agreement by which one becomes a member of a club;
(5) "", any payment greater than fifty dollars for service, merchandise or membership made before any service or merchandise is rendered. Money received by a club from a upon shall be considered prepayment when and to the extent the member is required to make prepayments to the financial institution the contract.
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Source & history notes
(L. 1988 H.B. 988)
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.