Senate Study Bill 1030 - Introduced SENATE/HOUSE FILE _____ BY (PROPOSED ATTORNEY GENERAL BILL) A BILL FOR An Act providing that certain activities relating to business 1 opportunity promotions are unlawful practices punishable as 2 consumer fraud and making a penalty applicable. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 1173DP (4) 85 av/nh
S.F. _____ H.F. _____ Section 1. Section 551A.10, subsection 2, Code 2013, is 1 amended to read as follows: 2 2. A business opportunity contract is subject violation 3 of this chapter is an unlawful practice pursuant to section 4 714.16 . 5 EXPLANATION 6 This bill provides that a violation of Code chapter 551A, 7 which regulates certain business opportunity promotions, 8 constitutes an unlawful practice as provided in Code section 9 714.16, which relates to consumer frauds. Pursuant to Code 10 section 714.16, the attorney general may investigate, issue 11 subpoenas, and commence civil proceedings seeking restraining 12 orders or injunctions prohibiting persons from engaging in 13 unlawful practices or seeking termination of the business 14 affairs of a person engaging in unlawful practices. In 15 addition, a civil penalty of up to $40,000 per violation may be 16 imposed by a court against a person found to have committed an 17 unlawful practice. 18 -1- LSB 1173DP (4) 85 av/nh 1/ 1