SENATE COMMERCE COMMITTEE

 

STATEMENT TO

 

SENATE, No. 1474

 

with committee amendments

 

STATE OF NEW JERSEY

 

DATED: OCTOBER 28, 1996

 

      The Senate Commerce Committee reports favorably and with committee amendments Senate Bill No. 1474.

      This bill, as amended by the committee, provides that a real estate salesperson, broker-salesperson or broker is exempt from liability under the consumer fraud law 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-salespersons and brokers under other laws or regulations.