ASSEMBLY CONSUMER AFFAIRS AND REGULATED PROFESSIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 2289

with committee amendments

STATE OF NEW JERSEY

DATED: NOVEMBER 17, 1997

      The Assembly Consumer Affairs and Regulated Professions Committee reports favorably and with committee amendments Assembly Bill No. 2289.

      As amended, this bill provides that a real estate salesperson, broker-salesperson or broker is exempt from liability under the consumer fraud law, P.L.1960, c.39 (C.56:8-1 et seq.), for any communication by him of any false, misleading or deceptive information provided to him by or on behalf of the seller of the real estate located in this State, unless he actually knows, after making a reasonable inquiry, that the representation is false, misleading or deceptive. This exemption does not affect any other obligations imposed upon real estate salespersons, broker-salesperson and brokers under other laws or regulations.

      This bill, as amended, is identical to Senate Bill No. 1474 (1R).