SCS/SB 150 - This act modifies provisions relating to civil actions for certain unlawful merchandising practices. This act provides that in construing provisions of law regarding unlawful merchandising practices, courts shall be guided by policies of, and interpretations given by, the Federal Trade Commission and the federal courts to the Federal Trade Commission Act.
An unlawful merchandising practice shall not include any advertisement, merchandise, or transaction in which the merchandise consists of a new residence in a transaction in which the buyer is offered an express warranty in the sale contract by the builder or by a third party warranty paid for by the builder and the sale contract includes a disclaimer. The act defines a "residence" as a single-family house, duplex, triplex, quadraplex, or unit in a multiunit residential structure in which the title to each individual unit is transferred to an owner under a condominium or cooperative system and includes common areas and common elements.
This act exempts any action or transaction authorized under laws administered by any regulatory body of this state or the United States from provisions of law regarding unlawful merchandising practices.
Additionally, this act provides that any award of attorney's fees shall bear a reasonable relationship to the amount of the judgment in class action lawsuits for unlawful merchandising practices.
KATIE O'BRIEN