Bill Text: NJ S2091 | 2012-2013 | Regular Session | Introduced
Bill Title: Establishes license for timeshare salespersons.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2012-07-26 - Withdrawn from Consideration [S2091 Detail]
Download: New_Jersey-2012-S2091-Introduced.html
Sponsored by:
Senator JIM WHELAN
District 2 (Atlantic)
SYNOPSIS
Establishes license for timeshare salespersons.
CURRENT VERSION OF TEXT
As introduced.
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.
2. a. All persons desiring to become timeshare salespersons shall apply to the commission for a 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) Has completed not less than 30 days onsite training under the supervision of a real estate broker;
(5) Has successfully completed a 30 hour course of study in timeshare sales prescribed by the commission and conducted by an approved education provider; and
(6) Has successfully completed a timeshare salesperson licensing examination administered by the commission.
b. All timeshare salesperson licenses shall be renewable on a biennial basis on a date determined by the commission.
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.);
(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); and
(4) the provisions of the "New Jersey Real Estate Timeshare Act," P.L.2006, c.63 (C.45:15-16.50 et seq.).
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.
STATEMENT
This bill establishes a license for timeshare salespersons, which enables timeshare salespersons to 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. Under current law, timeshare sales may only be negotiated by licensed real estate brokers, salesperson-brokers, and real estate salespersons, or by owners of timeshares interests.
The bill requires a person applying for licensure as a timeshare salesperson to furnish evidence satisfactory to the New Jersey Real Estate 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;
(4) Has completed not less than 30 days onsite training under the supervision of a real estate broker;
(5) Has successfully completed a 30 hour course of study in timeshare sales prescribed by the commission and conducted by an approved education provider; and
(6) Has successfully completed a timeshare salesperson licensing examination administered by the commission.
Additionally, the bill requires an applicant to 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.
The bill stipulates that timeshare salesperson licenses are renewable on a biennial basis on a date determined by the commission. The bill prohibits timeshare salespersons from being employed by any real estate broker other than the broker designated upon the current license, and pursuant to the procedures set forth in R.S.45:15-14.
The bill also subjects timeshare salespersons to the investigatory and disciplinary powers of the New Jersey Real Estate Commission, and to various provisions of existing law which apply to real estate brokers, broker-salespersons, salespersons, and referral agents.
