Amends Delaware Code to regulate multilevel distribution companies, including disclosure requirements and participant protections.
The Delaware HB162 amends Title 6 of the Delaware Code to regulate multilevel distribution companies. It mandates that these companies must disclose specific information to participants, including a right to cancel the contract within three months. Companies must repurchase goods at least 90% of the original price if the participant cancels. The bill also outlines detailed disclosure requirements, such as the compensation plan, inventory purchase requirements, and the nature of any services promised. Violations of these provisions can result in treble damages for affected individuals.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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