367.395 Definitions.
As used in KRS 367.397 to 367.407, unless the context requires otherwise: <br>(1) "Club" means any buying club or vacation club. <br>(2) "Contract" means any oral or written agreement by which one becomes a member of
a club.
(3) "Buying club" means any person, corporation, unincorporated association, or other
organization which for a consideration provides or purports to provide its members <br>or the members of any other buying club with the ability to purchase goods or <br>services at discount prices; except that such organization shall not include any <br>buying club in which persons receive discount buying services incidentally as part <br>of a package of services provided to, or available to, such individuals on account of <br>membership in such organization which is not organized for the profit of any person <br>or corporation or which does not have as one of its primary purposes or businesses <br>the provision of discount buying services.
(4) "Member" or "membership" means a status by which any natural person is entitled
to any of the benefits of a club.
(5) "Prepayment" means any payment for service or merchandise made before the
service is rendered or the merchandise is received. It is not a prepayment if a <br>payment for service is made on the same day the service is rendered. Money <br>received by a club from a financial institution upon assignment of a contract shall <br>be considered prepayment when and to the extent the member is required to make <br>prepayments to the financial institution pursuant to the contract.
(6) "Vacation club" means any person, corporation, unincorporated association, or other
organization which for a consideration provides or purports to provide its members <br>or the members of any other vacation club with any vacation, vacation plan, or <br>services connected with the scheduling of a vacation at discount prices.
Effective: July 15, 1988 <br>History: Amended 1988 Ky. Acts ch. 62, sec. 1, effective July 15, 1988. -- Created
1982 Ky. Acts ch. 21, sec. 1, effective July 15, 1982.
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