A. 1. Every health spa, before it enters into a health spa contract or membership agreement or accepts an initiation or prepayment fee in excess of Fifty Dollars ($50.00), shall file and maintain with the Administrator, in form and substance satisfactory to him, a bond with a corporate surety, from a company authorized to transact business in this state or a letter of credit from a bank insured by the Federal Deposit Insurance Corporation in the amounts indicated below:

2. The number of unexpired contracts or membership agreements exceeding six (6) months shall be separately calculated for each location where health spa services are offered.

3. Each separate location where health spa services are offered shall be considered a separate health spa and shall file a separate bond or letter of credit with respect thereto, even though the separate locations are owned or operated by the same owner.

4. No owner shall be required to file with the Administrator bonds or letters of credit in excess of Seventy Thousand Dollars ($70,000.00). If the seventy-thousand-dollar limit is applicable, then the bonds or letters of credit filed by such owner shall apply to all health spas owned or operated by the same owner.

1. any buyer injured by having paid money to the health spa posting the bond or letter of credit for health spa services in a facility which fails to open within sixty (60) days after the date upon which the buyer and the health spa entered into a contract or membership agreement or goes out of business prior to the expiration of the buyer's health spa contract or membership agreement; or

2. any buyer injured as a result of a violation of the Oklahoma Health Spa Act by the health spa posting the bond or letter of credit.