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SB 762 - This act provides that 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 "residence" as a single-family house, duplex, triplex, quadruplex, 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 provision is identical to a provision in SB 793 (2020) and SB 374 (2019), is substantially similar to a provision in SCS/SB 727 (2020), a provision in SCS/SB 62 (2019), a provision in SCS/SB 276 (2019), a provision in SS#2/SCS/SB 832 (2018), a provision in SCS/SB 1102 (2018), and a provision in HB 2089 (2018), and is similar to a provision in the truly agreed to and finally passed SS#2/SCS/SB 591 (2020), HB 1872 (2020), a provision in SCS/SB 150 (2019), and HB 790 (2019). KATIE O'BRIEN
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