Sec. 4. As used in this chapter, “commodity” means, except as otherwise specified by a rule, regulation, or order of the commissioner, any of the following:

(1) An agricultural, a grain, or a livestock product or byproduct.

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Terms Used In Indiana Code 23-2-6-4

  • commissioner: refers to the securities commissioner appointed under IC 23-19-6-1(a). See Indiana Code 23-2-6-2
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • precious metal: means the following in coin, bullion, or other form:

    Indiana Code 23-2-6-15

  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
  • sale: means any:

    Indiana Code 23-2-6-16

(2) A metal or mineral, including a precious metal.

(3) A gem or gemstone, whether the gem or gemstone is characterized as precious, semiprecious, or another characterization.

(4) A fuel (whether liquid, gaseous, or otherwise).

(5) Foreign currency.

(6) All other goods, articles, products, or items of any kind, except the following:

(A) A numismatic coin whose fair market value is at least fifteen percent (15%) higher than the fair market value of the metal contained in the coin.

(B) Real property.

(C) Any timber, agricultural, or livestock product that is grown or raised on real property and that is offered or sold by the owner or lessee of the real property.

(D) A work of art that is offered or sold by art dealers, offered or sold at a public auction, or offered or sold through a private sale by the owner of the work of art.

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

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