PRINTER'S NO. 1812
No. 1483 Session of 1983
INTRODUCED BY GREENWOOD, KLINGAMAN, CALTAGIRONE, SWEET,
B. SMITH, SEMMEL, HERSHEY, REINARD, JOHNSON, GAMBLE,
ALDERETTE, MICHLOVIC, MOEHLMANN, LASHINGER, ITKIN,
D. W. SNYDER, HAGARTY, COLAFELLA, MICOZZIE, DeLUCA, FARGO,
KASUNIC AND SALOOM, SEPTEMBER 28, 1983
REFERRED TO COMMITTEE ON PROFESSIONAL LICENSURE,
SEPTEMBER 28, 1983
AN ACT
1 Amending the act of February 19, 1980 (P.L.15, No.9), entitled
2 "An act establishing the State Real Estate Commission and
3 providing for the licensing of real estate brokers and
4 salesmen," requiring statements as to the fair market value
5 and odds of receiving any prize in relation to certain
6 offerings of real property.
7 The General Assembly of the Commonwealth of Pennsylvania
8 hereby enacts as follows:
9 Section 1. Section 604(18) of the act of February 19, 1980
10 (P.L.15, No.9), known as the Real Estate Licensing and
11 Registration Act, is amended to read:
12 Section 604. Prohibited acts.
13 The commission may upon its own motion, and shall promptly
14 upon the verified complaint in writing of any person setting
15 forth a complaint under this section, ascertain the facts and,
16 if warranted, hold a hearing for the suspension or revocation of
17 a license or registration certificate or for the imposition of
18 fines not exceeding $500. The commission shall have power to
1 refuse a license or registration certificate for cause or to
2 suspend or revoke a license or registration certificate or to
3 levy fines up to $500 where the said license has been obtained
4 by false representation, or by fraudulent act or conduct, or
5 where a licensee or registrant, in performing or attempting to
6 perform any of the acts mentioned herein, is found guilty of:
7 * * *
8 (18) Soliciting, selling or offering for sale real
9 property by offering free lots, or conducting lotteries or
10 contests or offering prizes for the purpose of influencing by
11 deceptive conduct any purchaser or prospective purchaser of
12 real property. The commission shall promulgate necessary
13 rules and regulations to provide standards for nondeception
14 conduct under this paragraph. Any offering by mail or by
15 telephone of any prize in relation to the offering of sale of
16 real property, including time sharing, shall be accompanied
17 by a statement of the fair market value, not suggested retail
18 price, of all prizes offered, plus a statement of the odds of
19 receiving any such prize. This statement of value and odds
20 shall be printed in the same size type as the prize
21 description and shall appear immediately adjacent to said
22 description.
23 * * *
24 Section 2. This act shall take effect in 60 days.
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