Indiana Code 23-2-6-10. “Commodity option” defined
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Sec. 10. As used in this chapter, “commodity option” means an account, an agreement, or a contract giving a party to the account, agreement, or contract the right but not the obligation to purchase or sell:
(2) at least one (1) commodity contract;
(1) at least one (1) commodity; or
Terms Used In Indiana Code 23-2-6-10
- 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 contract: means an account, an agreement, or a contract that:
Indiana Code 23-2-6-6
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- offer: means an offer to sell, offer to purchase, or offer to enter into a commodity contract or commodity option. See Indiana Code 23-2-6-13
whether characterized as an option, privilege, indemnity, bid, offer, put, call, advance guaranty, decline guaranty, or otherwise. However, the term does not include an option traded on a national securities exchange that is registered with the Securities and Exchange Commission.
As added by P.L.177-1991, SEC.10.