Legislation
SECTION 2257-B
Yacht brokers
Vehicle & Traffic (VAT) CHAPTER 71, TITLE 11, ARTICLE 48
§ 2257-b. Yacht brokers. 1. A yacht broker is any person who, for a
fee or commission, acts as an agent for either the buyer or seller of a
vessel. On and after April first, nineteen hundred eighty-six, a person
who engages in business as a yacht broker shall certify to the
commissioner that he is a yacht broker. The failure of a person engaged
in business as a yacht broker to certify to the commissioner that he is
a yacht broker shall be a violation.
2. A yacht broker shall be required to keep records of all
transactions concerning the purchase and sale of any vessel in which he
acted as agent for either the buyer or seller. Such records shall be
maintained in a manner prescribed by the commissioner and shall be
available upon request during business hours to any peace officer or
agent of the commissioner. The failure to produce such records as
required by this section shall be a violation.
fee or commission, acts as an agent for either the buyer or seller of a
vessel. On and after April first, nineteen hundred eighty-six, a person
who engages in business as a yacht broker shall certify to the
commissioner that he is a yacht broker. The failure of a person engaged
in business as a yacht broker to certify to the commissioner that he is
a yacht broker shall be a violation.
2. A yacht broker shall be required to keep records of all
transactions concerning the purchase and sale of any vessel in which he
acted as agent for either the buyer or seller. Such records shall be
maintained in a manner prescribed by the commissioner and shall be
available upon request during business hours to any peace officer or
agent of the commissioner. The failure to produce such records as
required by this section shall be a violation.