Revisor Home

Title XXVI TRADE AND COMMERCE

Chapter 407

previous next Effective - 28 Aug 1988bottom

  407.671.  Definitions. — As used in sections 407.670 to 407.679, the following terms shall mean:

  (1)  "Business day", any day other than a Saturday, Sunday, or legal holiday;

  (2)  "Buying service", "buying club", or "club", any person, corporation, partnership, unincorporated association or other business enterprise operating for profit within the state of Missouri, the primary purpose of which is to provide benefits to members from the cooperative purchase of services or merchandise;

  (3)  "Buyer" or "member", any status by which any natural person is entitled to any of the benefits of a discount buying organization;

  (4)  "Contract", any written agreement by which one becomes a member of a club;

  (5)  "Prepayment", any payment greater than fifty dollars for service, merchandise or membership made before any service or merchandise is rendered.  Money received by a club from a financial institution upon assignment of a contract shall be considered prepayment when and to the extent the member is required to make prepayments to the financial institution pursuant to the contract.

­­--------

(L. 1988 H.B. 988)


---- end of effective   28 Aug 1988 ----

use this link to bookmark section  407.671


In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@02:55:53.9 30 :)