2017 -- H 5292

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LC000105

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2017

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A N   A C T

RELATING TO COMMERCIAL LAW--GENERAL REGULATORY PROVISIONS --

DECEPTIVE TRADE PRACTICES

     

     Introduced By: Representatives Lima, Jacquard, Ucci, and Marshall

     Date Introduced: January 27, 2017

     Referred To: House Corporations

     It is enacted by the General Assembly as follows:

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     SECTION 1. Section 6-13.1-4 of the General Laws in Chapter 6-13.1 entitled "Deceptive

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Trade Practices" is hereby amended to read as follows:

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     6-13.1-4. Exemptions.

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     Nothing in this chapter shall apply to actions or transactions permitted under laws

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administered by the department of business regulation or other regulatory body or officer acting

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under statutory authority of this state or the United States. Nothing in this chapter shall apply to

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actions, transactions, entities or their affiliates that are subject to regulation or supervisory or

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enforcement jurisdiction of the United States Securities and Exchange Commission, the United

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States Commodity Futures Trading Commission, the Financial Industry Regulatory Authority, the

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United States Department of Labor, federal or state bank regulatory authorities, or similar

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financial regulatory oversight bodies or authorities, or to those entities or persons licensed in

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accordance with the provisions of title 19, title 27, and chapter 20.5 of title 5.

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     SECTION 2. This act shall take effect upon passage.

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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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     This act would specify certain exemptions to the state's deceptive trade practices act. The

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exemptions would apply to actions and entities subject to regulation by certain enumerated

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federal commissions and authorities and state licensed real estate brokers and salespersons.

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     This act would take effect upon passage.

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