76-6a-2 - Definitions. - Utah Statutes

76-6a-2. Definitions.
As used in this chapter:
(1) (a) "Compensation" means money, money bonuses, overrides, prizes, or other real orpersonal property, tangible or intangible.
(b) "Compensation" does not include payment based on the sale of goods or services toanyone purchasing the goods or services for actual personal use or consumption.
(2) "Consideration" does not include payment for sales demonstration equipment andmaterials furnished at cost for use in making sales and not for resale, or time or effort spent inselling or recruiting activities.
(3) "Person" includes a business trust, estate, trust, joint venture, or any other legal orcommercial entity.
(4) "Pyramid scheme" means any sales device or plan under which a person givesconsideration to another person in exchange for compensation or the right to receivecompensation which is derived primarily from the introduction of other persons into the salesdevice or plan rather than from the sale of goods, services, or other property.

Amended by Chapter 247, 2006 General Session