UICI Compliance, Operation & Goverance
South Carolina's Business Opportunity Sales Act
Information & Updates 2016
Information & Updates 2015
Responsilities Of Owners Of New Age Corporations
Duties & Responsibilities Of UICI's Board of Directors
Discussion Outline With John H. Yow Orangeburg City Administrator
Proposed Minature Billboard #1
Prosposed Miniature Billboard #2
UICI's Owners Reality & Fact Check I & II
Understanding Corporate Governance & Operations
UICI's Moonlighting Policy Position
Understanding Seed Capital - 1996 Vs 2015
Understanding UICI's 1244 Stock in 2016
UICI's FAQ Top 25
Report To The Board On Phase I Gasoline Station Acquisitions
Report To The Board On Phase I Restaurant & Grocery Store Acquisitions
Report To The Board On Phase I Franchise Acquisitions
Report To The Board On Phase II Abandoned Property Acquistions
Report To The Board On Phase III Cellular Tower Acquistions
Report To The Board On The Phase IV & V Acquistion Strategy
UICI's Private Placement Memorandum - The PPM
Processing Fees & Administration Fees
South Carolina's Business Opportunity Act Sales Act
Completing UICI's Strategic Plan
Links Library & Glossary Of Terms For GPs, Affiliates, Associates, Coordinators, Board & Owners
Coming Soon Books From UICI's Officers, Owners & Staff
South Carolina's
Business Opportunity Sales Act


Report: To General Partners, Affiliates, the Board and Owners


The Opportunity African American Women Have Been Waiting For
New Age Capitalism & New Age Corporations
Now You Can Lead The Way To The Future

Does UICI™'s (hereafter also called Unity) Acquisition programs violate South Carolina's Business Opportunity Sales Act? The answer is NO. Title 39, Chapter 57, does not apply to UICI™'s acquisition programs. Unity International Company, Inc.™, (hereafter also called Unity) is not in the business of selling businesses, products and/or services. Unity exists to acquire businesses and/or properties and any other lawful income producing asset/s. Unity’s Asset Acquisition Programs are not limited in any manner, shape or form.

Unity’s governing principals are based entirely on legality and the imagination of Unity's owner’s and/or their desire for legitimate long term profit making potential. South Carolina’s Business Sales Act was written primarily for MLM companies, Network Marking companies and companies selling vending machines or coin operated amusement machines and/or devices. Therefore, these business opportunities must register with the Secretary of State whenever the opportunity requires a $250.00 or more enrollment fee for kits and/or inventory. Unity is not a MLM or a Network Marketing corporation.

South Carolina law requires that all business opportunities be registered with the Secretary of State’s Office before a seller places advertisements or makes representations to prospective purchasers (S.C. Code of Laws 39-57-10 et seq.). A business opportunity is defined as the sale or lease of any product, equipment, supply or service which is sold to the purchaser for the purpose of enabling the purchaser to start a business, and for which the purchaser is required to pay the seller a fee which exceeds $250.00. The seller must also represent:


(a) That he will provide locations or assist the purchaser in finding locations for the use or operation of vending machines, racks, display cases or other similar devices or currency-operated amusement machines or devices, on premises neither owned nor leased by the purchaser or seller; or


(b)  That he will purchase any or all products made, produced, fabricated, grown, bred or modified by the purchaser using in whole or in part, the supplies, services or chattels sold to the purchaser; or


(c)  That he guarantees that the purchaser will derive income from the business opportunity which exceeds the price paid for the business opportunity; or that he will refund all or part of the price paid for the business opportunity, or repurchase any of the products, equipment, supplies or chattels supplied by the seller, if the purchaser is unsatisfied; or


(d)  The seller will provide a sales program or marketing program which will enable the purchaser to derive income from the business opportunity which exceeds the price paid; provided, that this does not apply to the sale of a marketing program made in conjunction with the licensing of a registered trademark or service mark.


"Business opportunity" does not include the sale of ongoing businesses when the owner of those businesses sells or intends to sell any portion thereof; provided, a business is not considered an ongoing business unless it has filed income tax returns with the South Carolina Department of Revenue for at least one year; nor does it include the sale of assets or substantially all of the assets of an ongoing business; nor does it include payment for the not-for-profit sale of sales demonstration equipment, material or samples, or where the payment is made for product inventory sold to the purchaser at a bona fide wholesale price; nor does it include the sale or lease of any products, equipment, supplies, or services where the seller has a net worth on a consolidated basis, according to its most recent audited financial statement, of not less than ten million dollars.

S.C. Code of Laws 39-57-30 requires that the seller of every “business opportunity” must file a copy of the disclosure statement required by 39-57-30 before placing an advertisement or making other representations to prospective purchasers in the State. In order to comply with the law, the seller of every “business opportunity” must do the following: 

(a) Register with the Secretary of State’s Office on a biennial basis by completing the Registration and/or Biennial Renewal Application of Business Opportunity Form;


(b)  Submit a registration fee of $100;


(c) Submit a financial statement that is not older than 13 months;


(d)  If the seller is required by statute (39-57-40) to obtain a surety bond or establish a trust account, a copy of the bond or a copy of the formal notification by the depository that the trust account is established must be submitted to the Secretary of State at the same time as the registration. {Click here to review & study the History Behind Unity's 1244 Stock.} {Click here to review why Unity's Incorporators Chose Franchising in 1996.}


Since 1996, Unity has “Substantially Complied” with Title 39, Chapter 57 in all respect, even though Unity was not and is not required by South Carolina law do so. It is simply a good business practice to abide by all State and/or Federal laws, whether Unity is required to do so or not. {Click here to review & study the Business Opportunity Sales Act, Title 39, Chapter 57, SC Code of Laws.}

By: George M. Sistrunk - 803-347-6638

Images from Google's public source - 8/2015
2015 - George M. Sistrunk - All Rights Reserved. 

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