South Carolina Code 39-73-30. Purchasers or sellers as to whom prohibition not applicable
(1) a person registered with the Commodity Futures Trading Commission as a futures commission merchant or as a leverage transaction merchant whose activities require registration;
Terms Used In South Carolina Code 39-73-30
- CFTC Rule: means a rule, regulation, or order of the Commodity Futures Trading Commission in effect on the effective date of this chapter and their amendments unless the administrator, within ten days following the effective date of an amendment disallows its application to this chapter by regulation. See South Carolina Code 39-73-10
- Commodity: means , except as otherwise specified by the administrator, an agricultural, a grain, or a livestock product or by-product, a metal or mineral, including a precious metal, a gem, or gemstone whether characterized as precious, semi-precious, or otherwise, a fuel whether liquid, gaseous, or otherwise, a foreign currency, and other goods, articles, products, or items. See South Carolina Code 39-73-10
- Commodity Exchange Act: means the act of Congress known as the Commodity Exchange Act, as amended, unless the administrator within ten days following the effective date of an amendment, disallows the application to this chapter by regulation. See South Carolina Code 39-73-10
- Commodity Futures Trading Commission: means the independent regulatory agency established by Congress to administer the Commodity Exchange Act. See South Carolina Code 39-73-10
- Contract: A legal written agreement that becomes binding when signed.
- Financial institution: means a bank, savings institution, or trust company organized under, or supervised pursuant to the laws of the United States or its states. See South Carolina Code 39-73-10
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: means an individual, a corporation, a partnership, an association, a joint-stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See South Carolina Code 39-73-10
(2) a person registered with the Securities and Exchange Commission as a broker-dealer whose activities require registration;
(3) a person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by, a person referred to in item (1) or (2);
(4) a person who is a member of a contract market designated by the Commodity Futures Trading Commission, or clearinghouse of it;
(5) a financial institution;
(6) a person registered under the laws of this State as a securities broker-dealer whose activities require registration.
(B) The exemptions in this section do not apply to a transaction or an activity prohibited by the Commodity Exchange Act or a CFTC Rule.