§ 66-131. Definition. - North Carolina Statutes

Article22.

Discount Buying Clubs.

§ 66‑131.  Definition.

For the purpose of thisArticle, a "discount buying club" is any person, firm or corporation,which in exchange for any valuable consideration offers to sell or to arrangethe sale of goods or services to its customers at prices represented to belower than are generally available. "Discount buying club" shall notinclude any cooperative buying association or other group in which no person isintended to profit or actually profits beyond the benefit that all membersreceive from buying at a discount; nor shall any person, firm or corporation bedeemed "a discount buying club" solely by virtue of the fact that (i)for fifty dollars ($50.00) or less it sells tickets or coupons valid for use inobtaining goods or services from a retail merchant, or (ii) as a servicecollateral to its principal business, and for no additional charge it arrangesfor its members or customers to purchase or lease directly from particularmerchants at a specified discount. (1981, c. 594, s. 1.)