Section 9.14.040. Information to be provided each prospective buyer.

Each telephonic seller shall, in the written contract required under AS 45.63.020, provide the following information to each prospective buyer:  
		(1) if the telephonic seller represents or implies that a prospective buyer will receive, without charge, an item or items in addition to the primary item for sale, whether the items are denominated as gifts, premiums, bonuses, prizes, or otherwise, the telephonic seller shall provide the following:  
			(A) the actual physical address of the location from which the telephonic seller is soliciting the prospective buyer and, if different, the complete street address of the telephonic seller's principal location;  
			(B) the total number of individuals who have actually received from the telephonic seller, during the preceding 12 months, or if the telephonic seller has not been in business that long, during the period the telephonic seller has been in business, the described items;  
			(C) the odds the prospective buyer has of actually receiving each item listed;  
			(D) all terms and conditions the prospective buyer must meet to obtain the items;  
			(E) the actual market value of the items, with an explanation of the basis for the valuation, together with a statement of the price paid by the telephonic seller for the items; and  
			(F) a statement of the manner in which the telephonic seller decides which items the prospective buyer will receive;  
		(2) if the telephonic seller is offering to sell any metal, stone, or mineral, the telephonic seller shall provide the following information:  
			(A) the actual physical address from which the telephonic seller is soliciting the prospective buyer and, if different, the complete street address of the telephonic seller's principal location; and  
			(B) the name, address and telephone number of each of the telephonic seller's suppliers and a description of each metal, stone, or mineral to be purchased; and  
			(C) a complete disclosure of the terms and conditions the prospective buyer must meet to take actual physical possession of the metal, stone, or mineral.  
		(3) if the telephonic seller is offering to sell an interest in oil, gas, or mineral fields, wells, or exploration sites, the telephonic seller shall provide the following information:  
			(A) the complete street address of the location from which the telephonic seller is soliciting the prospective buyer and, if different, the complete street address of the telephonic seller's principal location;  
			(B) a complete disclosure of the telephonic seller's interest in the property;  
			(C) the total number of interests to be sold in each oil, gas, or mineral field, well, or exploration site; and  
			(D) documents supporting any claims made by the telephonic seller that the oil, gas, or mineral field, well, or exploration site has a particular return potential, or that it has been investigated and found to have a potential for return on investment.  
		(4) if the telephonic seller represents that office equipment or supplies being offered are offered at prices which are below those usually charged for those items, the telephonic seller shall provide the following information:  
			(A) the complete street address of the location from which the telephonic seller is soliciting the prospective buyer and, if different, the complete street address of the telephonic seller's principal location; and  
			(B) the name of the manufacturer of each of the items the telephonic seller has represented for sale and in which the prospective buyer expresses interest.  
		(5) if the telephonic seller represents that advertising in the "yellow pages" or any directory is being offered for sale at prices which are below those usually charged for those items, the telephonic seller shall provide the following information:  
			(A) the complete street address of the location from which the telephonic seller is soliciting the prospective buyer, and if different, the complete street address of the telephonic seller's principal location; and  
			(B) the name of the publisher, how many times the publication has been issued in separate editions, how many copies have been printed, where it has been distributed, and if the publication has ever been distributed in this state by the publisher.  

Authorities

45.63.010;45.63.020;45.63.090

Notes

Reference

9 AAC 14.010

Authority

AS 45.63.010 AS 45.63.020 AS 45.63.090

History

Eff. 3/19/94, Register 129