South Carolina § 39-5-720 - Definitions.
Full text of South Carolina South Carolina Code of Laws § 39-5-720 — Definitions., with citation guidance and answers to common questions.
§ 39-5-720. Definitions.
As used in this article:
(1) "Compensation" means the payment of money, a thing of value, or a benefit.
(2) "Consideration" means either the payment of money or the provision of a thing of value for the purchase of a product, good, service, or intangible property. Consideration does not include:
(a) the purchase of a product, furnished at cost, for use in making a sale, but not for resale, of the purchased product itself; or
(b) time and effort spent to pursue a sale or recruiting activity.
(3) "Pyramid promotional scheme" means a plan or operation in which an individual pays consideration for the right to receive compensation based primarily upon recruiting other individuals into the plan or operation instead of selling products or services to ultimate users for their use or consumption.
(4) "Ultimate users" are individuals who consume or use the products or services, whether or not they are participants in the plan or operation.
HISTORY: 2017 Act No. 39 (H.3883), SECTION 1, eff May 10, 2017.
Frequently Asked Questions About South Carolina § 39-5-720
What does South Carolina Code of Laws § 39-5-720 cover?
Section 39-5-720 ("Definitions.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 39-5-720?
A common citation format is "South Carolina Code of Laws § 39-5-720" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 39-5-720 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.