New Jersey § 45:15-16
Full text of New Jersey New Jersey Statutes § 45:15-16, with citation guidance and answers to common questions.
§ 45:15-16.
a. A sales agent in New Jersey shall comply with the provisions of R.S.45:15-1 et seq. , and the regulations adopted pursuant thereto, including licensure requirements,
unless otherwise exempt by law. b. A timeshare interest owner, who, for non-monetary compensation, as provided for
in this act and by regulation, refers in a calendar year no more than 12 prospective
purchasers of timeshare interests in the timeshare plan shall not be required to be
licensed pursuant to R.S.45:15-1 et seq. , provided the referring timeshare interest owner does not show, discuss terms or
conditions of purchase or otherwise participate in negotiations with regard to the
timeshare purchase. Examples of non-monetary compensation shall include, but shall not be limited to,
the following: (1) Waiver of association maintenance fees; (2) Free meals at a restaurant or rounds of golf at a golf course; (3) Points or other non-monetary currency associated with hotel, timeshare or other
loyalty programs; or (4) Other benefits specifically associated with the timeshare plan. c. A person licensed under R.S.45:15-1 et seq. , who also is a bona fide owner of a timeshare property, shall be entitled to receive
non-monetary compensation as defined in subsection b. of this section on the same
basis as any other owner of a timeshare property. The non-monetary compensation or referral pursuant to subsection b. of this section
shall not fall within the scope of R.S.45:15-1 et seq. or the rules and regulations implementing R. S.45:15-1 et seq.
Frequently Asked Questions About New Jersey § 45:15-16
What does New Jersey Statutes § 45:15-16 cover?
Section 45:15-16 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 45:15-16?
A common citation format is "New Jersey Statutes § 45:15-16" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 45:15-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.