(a) As used in this section:
(1) “Buying club” means any partnership, corporation, limited liability company, association, trust, or any other legal entity that offers memberships to consumers for a fee whereby such consumers may purchase consumer goods or services from such entity either exclusively from a catalog or whose membership fee is two hundred dollars or greater;
(2) “Consumer” means any person who purchases a consumer good or service other than for resale;
(3) “Consumer goods or services” means goods or services purchased or leased primarily for personal, family, leisure, entertainment or household purposes.
(b) (1) No agreement between a buying club and a consumer shall be effective if it is not in writing and does not include a conspicuous statement, in boldface type of a minimum size of ten points in substantially the following form: