(a)    (1)    In this section the following words have the meanings indicated.

(2)    (i)    “Resale” means the second or subsequent sale of a ticket.

(ii)    “Resale” includes a sale by any means, including in person, by telephone, by mail, by e–mail, by facsimile, or through a website or other electronic means.

(3)    “Reseller” means a person who offers a ticket for resale.

(4)    (i)    “Speculative ticket” means a ticket that is not in the actual or constructive possession of a reseller at the time of sale.

(ii)    “Speculative ticket” includes a ticket sold by a reseller that, at the time of resale:

1.    Is not in the physical possession of the reseller;

2.    Is not owned by the reseller; or

3.    Is not under contract to be transferred to the reseller.

(5)    “Ticket” means physical, electronic, or other evidence, that grants the possessor of the evidence permission to enter a place of entertainment for one or more events at a specified date and time.

(b)    A reseller may not sell or offer to sell speculative tickets unless the reseller, clearly and conspicuously, discloses to a prospective purchaser at the outset of the sales transaction:

(1)    That the tickets are speculative tickets, and the reseller is not in possession of the tickets;

(2)    That the reseller is making an offer to procure the tickets for the prospective purchaser;

(3)    An approximate date on which the tickets will be delivered to the purchaser;

(4)    The name or a description of the event for which the tickets will permit entry;

(5)    The total number of tickets included in the transaction;

(6)    The number of tickets for seats that are together;

(7)    The zone or section number of the tickets, to the extent applicable to the venue; and

(8)    For reserved seat tickets:

(i)    The seat numbers of the tickets; or

(ii)    If applicable, that the reseller cannot guarantee the specific seats because the tickets are speculative tickets.

(c)    (1)    A reseller shall refund to a purchaser any consideration or deposit paid for tickets sold under this section if the reseller fails to obtain the tickets:

(i)    Within 24 hours after the approximate date of delivery specified in subsection (b)(2) of this section, but before the commencement of the event for which the tickets were sold; or

(ii)    In conformity with the disclosures required under this section.

(2)    A reseller shall make a refund required under this subsection not later than 10 days after the final day of the event for which the tickets were sold.