2016 -- H 7252 SUBSTITUTE A | |
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LC003832/SUB A/3 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2016 | |
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A N A C T | |
RELATING TO COMMERCIAL LAW--GENERAL REGULATORY PROVISIONS -- | |
DECEPTIVE TRADE PRACTICES | |
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Introduced By: Representative Charlene Lima | |
Date Introduced: January 20, 2016 | |
Referred To: House Corporations | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Section 6-13.1-4 of the General Laws in Chapter 6-13.1 entitled "Deceptive |
2 | Trade Practices" is hereby amended to read as follows: |
3 | 6-13.1-4. Exemptions. -- Nothing in this chapter shall apply to actions or transactions |
4 | permitted under laws administered by the department of business regulation or other regulatory |
5 | body or officer acting under statutory authority of this state or the United States. Nothing in this |
6 | chapter shall apply to actions, transactions, entities or their affiliates that are subject to regulation |
7 | or supervisory or enforcement jurisdiction of the United States Securities and Exchange |
8 | Commission, the United States Commodity Futures Trading Commission, the Financial Industry |
9 | Regulatory Authority, the United States Department of Labor, federal or state bank regulatory |
10 | authorities, or similar financial regulatory oversight bodies or authorities, or to those entities or |
11 | persons licensed in accordance with the provisions of title 19, title 27, and chapter 20.5 of title 5. |
12 | SECTION 2. This act shall take effect upon passage. |
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LC003832/SUB A/3 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO COMMERCIAL LAW--GENERAL REGULATORY PROVISIONS -- | |
DECEPTIVE TRADE PRACTICES | |
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1 | This act would specify certain exemptions to the state's deceptive trade practices act. The |
2 | exemptions would apply to actions and entities subject to regulation by certain enumerated |
3 | federal commissions and authorities and state licensed real estate brokers and salespersons. |
4 | This act would take effect upon passage. |
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