The City Council finds that residents of the city are frequently solicited to buy membership or otherwise pay towards rights in organizations such as health spas, dance clubs and travel clubs that are to be established in the city in the future with no guarantee of refunds should such organizations not come into existence according to the promises or agreements under which the sponsor of the organization solicits the money. Sections 13-3-3-1 et seq. is intended to protect members of the general public from the risks of such failure to perform.
('74 Code, § 10-5-2) (Ord. 102-1981)