(a) Unfair methods of competition in commerce and unfair or deceptive acts or practices in commerce are hereby declared unlawful.

(b) It is the intent of the Legislature that in construing subsection (a) of this section, the courts of this State will be guided by the construction of similar terms contained in Section 5(a)(1) of the Federal Trade Commission Act as from time to time amended by the Federal Trade Commission and the courts of the United States.

(c) The Attorney General shall adopt rules, when necessary and proper to carry out the purposes of this chapter, relating to unfair methods of competition in commerce and unfair or deceptive acts or practices in commerce. The rules shall not be inconsistent with the rules, regulations, and decisions of the Federal Trade Commission and the federal courts interpreting the Federal Trade Commission Act.

(d) Violation of a rule adopted by the Attorney General is prima facie proof of the commission of an unfair or deceptive act in commerce.

(e) The provisions of subsections (a), (c), and (d) of this section shall also be applicable to real estate transactions. (Added 1967, No. 132, § 1, eff. April 17, 1967; amended 1969, No. 45, § 8, eff. April 4, 1969; 1969, No. 278 (Adj. Sess.); 1973, No. 221 (Adj. Sess.), § 1, eff. June 7, 1974; 1999, No. 65 (Adj. Sess.), § 2; 2011, No. 109 (Adj. Sess.), § 2, eff. May 8, 2012; 2011, No. 136 (Adj. Sess.), § 1a, eff. May 18, 2012; 2017, No. 74, § 13.)