Resale Legislation - a state where resale is restricted,...

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Resale Legislation Although event tickets can easily be traded, such transactions are not necessarily legal. About one-third of U.S. states regulate resale, although the nature of these legislations varies greatly across states. According to the National Conference of State Legislatures at  http://www.ncsl.org/programs/lis/ticketscalplaws.htm  , at least 16 states prohibit resale or limit the mark-up above face price, at least four states require a license to broker tickets, effectively regulating entry, and four states grant localities or municipalities the ability to license or prohibit resale of tickets. A number of municipal ordinances govern ticket resale, as well. However, no federal laws restrict ticket resale, which means that even if an event takes place in
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Unformatted text preview: a state where resale is restricted, tickets can still be traded in other states where resale is allowed. A good reference for updated information on resale legislation is eBay, which has to collect this information to maintain the legality of the trades that take place on its website at http://pages.ebay.com/help/community/pngtickets. html?ssPageName5TixPolicy . Resale laws have been enforced. For example, New York, which is the largest local market in the United States for entertainment events, has run several largescale investigations, which have resulted in prosecution, against resellers who sell tickets above the regulated premium de. ned as $5 or 10 percent of the face price (Of. ce of New York State Attorney General, 1999)....
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This note was uploaded on 02/24/2010 for the course ECON 1313212 taught by Professor John during the Spring '09 term at The School of the Art Institute of Chicago.

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