Indiana Code 23-2-6-23. Registration of commodity merchants; places for trading commodities or options
(1) is registered or temporarily licensed with the Commodity Futures Trading Commission for each activity causing the person to be considered a commodity merchant and the registration or temporary license has not expired or been revoked or suspended; or
Terms Used In Indiana Code 23-2-6-23
- board of trade: refers to a person or group of persons engaged in:
Indiana Code 23-2-6-1
- 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
- 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
- commodity merchant: means any of the following (as defined or described in the Commodity Exchange Act or in a CFTC rule):
Indiana Code 23-2-6-9
- 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:
Indiana Code 23-2-6-10
- Contract: A legal written agreement that becomes binding when signed.
- 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) the Commodity Exchange Act; or
(B) a CFTC rule.
(b) A board of trade may not trade or provide a place for the trading of any commodity contract or commodity option if the commodity contract or commodity option must be traded on a contract market or commodity market designated by the Commodity Futures Trading Commission or is subject to the rules of a contract market or commodity market designated by the Commodity Futures Trading Commission, unless:
(1) the board of trade has been designated for the commodity contract or commodity option by the Commodity Futures Trading Commission; and
(2) the designation has not been vacated, suspended, or revoked.
As added by P.L.177-1991, SEC.10.