The bill amends existing Florida law by deleting provisions related to pyramid sales schemes from section 849.091 and creating a new section, 849.0913, which explicitly prohibits pyramid promotional schemes. The new section defines key terms such as "pyramid promotional scheme," "participant," and "compensation," and establishes that individuals are not allowed to establish, promote, operate, or participate in such schemes. It also outlines exceptions for certain plans that do not violate the provisions of the new law, particularly those that involve the sale of products for personal use or resale under specific conditions.

Additionally, the bill mandates the Department of Legal Affairs to issue cease and desist orders against violators and provides a framework for enforcement, including penalties for violations. Individuals convicted of operating a pyramid promotional scheme face felony charges, while participants may be charged with misdemeanors. The bill also allows for the appointment of receivers to manage the assets of violators and emphasizes that the penalties outlined are supplementary to other legal actions available under existing law. The act is set to take effect on July 1, 2025.

Statutes affected:
H 249 Filed: 849.091