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)
Related Missouri laws
Citation of law
RSMo 407.670
Cancellation of membership
RSMo 407.672
Contract, requirements, right to cancel
RSMo 407.673
Delivery date of goods, exception
RSMo 407.674
Duration of contract, renewal, terms and limitations
RSMo 407.675
Law not applicable, when
RSMo 407.676
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.