RICABOR supports new legislative initiative; Commercial Lien Legislation

The R.I. Commercial and Appraisal Board of Realtors (RICABOR), led by Realtor Peter Scotti of Scotti & Associates is supporting a new legislative initiative in 2012. The draft legislation, which went before the R.I. General Assembly in April, proposed the adoption of Commercial Lien Legislation in R.I. If adopted, R.I. will be the nation's 30th state to implement similar legislation designed to protect small-medium sized real estate business owners against unscrupulous business practices. Scotti, the 2012 RICABOR president said, "This is an important advocacy issue for real estate brokerage and for our members, and frankly, the measure is overdue." Scotti, who testified before the Senate Judiciary Committee in support of the bill, stated that the legislation is modeled on successful language adopted in other states and is supported by the R.I. Association of Realtors. The mission of the R.I. Commercial and Appraisal Board of Realtors is to support professional services and provide legislative advocacy for real estate business issues.