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§ 14-302. Repurchases

West's Annotated Code of MarylandBusiness Regulation

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 14. Business Opportunities, Franchises, and Multilevel Distribution Companies (Refs & Annos)
Subtitle 3. Multilevel Distribution Companies (Refs & Annos)
MD Code, Business Regulation, § 14-302
§ 14-302. Repurchases
Currentness
(a) A multilevel distribution company may not require a participant in its marketing program to buy goods or services or pay any other consideration to participate in the marketing program unless the multilevel distribution company agrees to repurchase the goods:
(1) that are in resalable condition; and
(2) that the participant has been unable to sell 3 months after receipt of the goods first ordered.
(b) A multilevel distribution company shall state in writing in each contract of participation in its marketing program that:
(1) a participant may cancel the contract for any reason within 3 months after the date of receipt of goods or services first ordered by written notice to the multilevel distribution company; and
(2) on cancellation, the multilevel distribution company shall repurchase the goods.
(c) The repurchase price shall be at least 90% of the original price paid by the participant.

Credits

Added by Acts 1992, c. 4, § 2.
Formerly Art. 23, § 180A.
MD Code, Business Regulation, § 14-302, MD BUS REG § 14-302
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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