§ 23-2-6-23 — Registration of commodity merchants; places for trading commodities or options

Indiana § 23-2-6-23

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 2: SECURITIES AND FRANCHISES
• Ch. 6: Indiana Commodity Code

Text

(a) A person may not engage in the
commodities trade or business or otherwise act as a commodity
merchant unless the person:
(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temporary license has not expired or been revoked or suspended;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
(2) is exempt from registration with the Commodity Futures
Trading Commission under:
(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.

Legislative History

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