Sec. 18. (a) The prohibitions set forth in section 17 of this chapter do not apply to any transaction offered by any of the following persons (or any employee, officer, or director of the person who is acting solely in that capacity) if the person is the purchaser or seller in the transaction:

(1) A person:

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Terms Used In Indiana Code 23-2-6-18

  • commodity: means , except as otherwise specified by a rule, regulation, or order of the commissioner, any of the following:

    Indiana Code 23-2-6-4

  • Commodity Exchange Act: means the act of the United States Congress known as the Commodity Exchange Act (7 U. See Indiana Code 23-2-6-7
  • Commodity Futures Trading Commission: means the independent regulatory agency established to administer the Commodity Exchange Act. See Indiana Code 23-2-6-8
  • Contract: A legal written agreement that becomes binding when signed.
  • financial institution: means a bank, savings institution, or trust company that is organized or supervised under the laws of the United States or of any state. See Indiana Code 23-2-6-12
  • 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, a limited liability company, 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 Indiana Code 23-2-6-14
(A) who is registered with the Commodity Futures Trading Commission as a futures commission merchant, a leverage transaction merchant, an introducing broker, or an associated person of an introducing broker; and

(B) whose activities require that registration.

(2) A person registered with the Securities and Exchange Commission as a broker-dealer whose activities require that registration.

(3) A person:

(A) who is affiliated with; and

(B) whose obligations and liabilities under the transaction are guaranteed by;

a person described in subdivision (1) or (2).

(4) A person who is a member of a contract market designated by the Commodity Futures Trading Commission or any clearinghouse of the Commodity Futures Trading Commission.

(5) A financial institution.

(6) A person registered in Indiana as a securities broker-dealer whose activities require that registration.

     (b) The exemption provided by subsection (a) does not apply to any transaction or activity that is prohibited by the Commodity Exchange Act or by a CFTC rule.

As added by P.L.177-1991, SEC.10.

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