South Dakota § 37-26-1 Definition of terms.

South Dakota Statutes

§ 37-26-1 — Definition of terms.

South Dakota·Title 37 TRADE REGULATION·Ch. 37-26 BUYING CLUBS

Terms used throughout this chapter unless the context plainly requires otherwise shall mean:

(1)"Buying club," any corporation, partnership, unincorporated association, or other business enterprise organized with the primary purpose of providing benefits to members from the cooperative purchase of services or merchandise;

(2)"Club," any buying club;

(3)"Contract," any written agreement by which one becomes a member of a club;

(4)"Member," any status by which any natural person is entitled to any of the benefits of a club;

(5)"Prepayment," any payment greater than twenty - five dollars for service, merchandise or membership made before the service is rendered. Money received by a club from a financial institution upon assignment of a contract shall be considered prepayme

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Terms used throughout this chapter unless the context plainly requires otherwise shall mean: (1) "Buying club," any corporation, partnership, unincorporated association, or other business enterprise organized with the primary purpose of providing benefits to members from the cooperative purchase of services or merchandise; (2) "Club," any buying club; (3) "Contract," any written agreement by which one becomes a member of a club; (4) "Member," any status by which any natural person is entitled to any of the benefits of a club; (5) "Prepayment," any payment greater than twenty - five dollars for service, merchandise or membership made before the service is rendered. Money received by a club from a financial institution upon assignment of a contract shall be considered prepayment when and to the extent the member is required to make prepayments to the financial institution pursuant to the contract.

South Dakota § 37-26-1 (Definition of terms.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.