Bill Text: NJ S2152 | 2012-2013 | Regular Session | Amended
Bill Title: Establishes procedure for licensure of timeshare salespersons.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-05-30 - Substituted by A3227 (1R) [S2152 Detail]
Download: New_Jersey-2012-S2152-Amended.html
Sponsored by:
Senator JIM WHELAN
District 2 (Atlantic)
SYNOPSIS
Establishes procedure for licensure of timeshare salespersons.
CURRENT VERSION OF TEXT
As reported by the Senate Commerce Committee on December 17, 2012, with amendments.
An Act concerning the licensure of timeshare salespersons and supplementing chapter 15 of Title 45 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Notwithstanding any law to contrary, a timeshare salesperson licensed pursuant to P.L. , c. (C. ) (pending before the Legislature as this bill) may be employed by and operate under the supervision of a licensed real estate broker to sell or offer to sell, buy or offer to buy, or negotiate the purchase, sale, or exchange of timeshare interests. 1Nothing in P.L. , c. (C. ) (pending before the Legislature as this bill) shall prevent a licensed real estate broker, broker-salesperson, or salesperson from selling or offering to sell, buying or offering to buy, or negotiating the purchase, sale, or exchange of timeshare interests.
For purposes of P.L. , c. (C. ) (pending before the Legislature as this bill), "timeshare interest" means the right to occupy a timeshare property, as defined in section 2 of P.L.2006, c.63 (C.45:15-16.51).1
2. a. All persons desiring to become timeshare salespersons shall apply to the commission for a timeshare license in the manner and pay such fee as the commission prescribes. The applicant shall furnish evidence satisfactory to the commission that the applicant:
(1) Is at least 18 years of age;
(2) Has a high school diploma or its equivalent;
(3) Has undergone fingerprinting and a criminal history record background check according to the procedures for applicant background checks set forth in R.S.45:15-9;
(4) 1[Has completed not less than 30 days onsite training at a timeshare facility under the supervision of a real estate broker; and
(5)]1 Has successfully completed a 30 hour course of study in timeshare sales prescribed by the commission and conducted by 1[an approved education provider] a real estate instructor licensed pursuant to section 48 of P.L.1993, c.51 (C.45:15-10.5) at a real estate school licensed pursuant to section 47 of P.L.1993, c.51 (C.45:15-10.4)1, which shall cover the following areas of study: basic contract law; sales practices 1[&] and1 procedures; sales ethics; and basic theory of resort timesharing 1; and
(5) Has successfully completed a timeshare salesperson licensing examination administered by the commission1.
b. 1(1)1 All timeshare
salesperson licenses shall be renewable
on a biennial basis on a date determined by the commission.
1(2) The commission shall require each timeshare salesperson, as a condition of biennial license renewal pursuant to paragraph (1) of this subsection, to complete not less than 12 hours and not more than 18 hours of continuing education requirements, imposed by the commission pursuant to this section and sections 23 through 28 of P.L.2009, c.238 (C.45:15-16.2a-16.2f), to be conducted by a real estate instructor licensed pursuant to section 48 of P.L.1993, c.51 (C.45:15-10.5) at a real estate school licensed pursuant to section 47 of P.L.1993, c.51 (C.45:15-10.4). Not less than six hours of continuing education shall be in the core topics outlined in section 27 of P.L.2009, c.238 (C.45:15-16.2e) and not less than six hours of continuing education shall be in: basic contract law; sales practices and procedures; sales ethics; and basic theory of resort timesharing.1
c. The applicant shall submit a sworn statement by a real estate broker certifying that the broker will actively supervise and train the applicant and certifying the truth and accuracy of the application.
d. No timeshare salesperson shall be employed by any other real estate broker than is designated upon the current license issued to that timeshare salesperson. All licenses issued to timeshare salespersons shall be kept by the broker by whom the timeshare salesperson is employed, and may be issued or terminated according to the procedures set forth in R.S.45:15-14.
3. a. Notwithstanding any law to the contrary, timeshare salespersons shall be subject to:
(1) the investigatory and disciplinary powers of the commission pursuant to R.S.45:15-17 and R.S.45:15-18;
(2) the provisions of the real estate guaranty fund established pursuant to P.L.1976, c.112 (C.45:15-34 et seq.); 1[and]1
(3) the revocation and suspension of license for certain indictments and convictions pursuant to sections 6 and 7 of P.L.1953, c.229 (C.45:15-19.1 and 45:15-19.2)1; and
(4) the provisions of section 8 of P.L.1953, c.229 (C.45:15-12.1), barring the issuance of a license based on certain criminal convictions1.
b. Any unlawful act or violation of any of the provisions of R.S.45:15-1 et seq., by any timeshare salesperson shall not be cause for the revocation of any real estate broker's license, unless it shall appear to the satisfaction of the commission that the real estate broker employing such licensee had guilty knowledge thereof.
4. The commission shall adopt, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), any rules and regulations necessary to effectuate the purposes of this act.
5. This act shall take effect on the 90th day next following enactment.
