2016 -- H 7252 SUBSTITUTE A

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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

     

     Introduced By: Representative Charlene Lima

     Date Introduced: January 20, 2016

     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. -- Nothing in this chapter shall apply to actions or transactions

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permitted under laws administered by the department of business regulation or other regulatory

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body or officer acting under statutory authority of this state or the United States. Nothing in this

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chapter shall apply to actions, transactions, entities or their affiliates that are subject to regulation

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or supervisory or enforcement jurisdiction of the United States Securities and Exchange

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Commission, the United States Commodity Futures Trading Commission, the Financial Industry

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Regulatory Authority, the United States Department of Labor, federal or state bank regulatory

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authorities, or similar financial regulatory oversight bodies or authorities, or to those entities or

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persons licensed in 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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