2003 US Code
Title 7 - AGRICULTURE
CHAPTER 1 - COMMODITY EXCHANGES
Sec. 27b - Exclusion of certain identified banking products offered by banks after December 5, 2000
View MetadataPublication Title | United States Code, 2000 Edition, Supplement 3, Title 7 - AGRICULTURE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 7 - AGRICULTURE CHAPTER 1 - COMMODITY EXCHANGES Sec. 27b - Exclusion of certain identified banking products offered by banks after December 5, 2000 |
Contains | section 27b |
Date | 2003 |
Laws in Effect as of Date | January 19, 2004 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 106-554, §1(a)(5) [title IV, §404], Dec. 21, 2000, 114 Stat. 2763, 2763A-459. |
Statutes at Large References | 42 Stat. 998 114 Stat. 2763 |
Public Law Reference | Public Law 106-554 |
§27b. Exclusion of certain identified banking products offered by banks after December 5, 2000
No provision of the Commodity Exchange Act [7 U.S.C. 1 et seq.] shall apply to, and the Commodity Futures Trading Commission shall not exercise regulatory authority with respect to, an identified banking product which had not been commonly offered, entered into, or provided in the United States by any bank on or before December 5, 2000, under applicable banking law if—
(1) the product has no payment indexed to the value, level, or rate of, and does not provide for the delivery of, any commodity (as defined in section 1a(4) of the Commodity Exchange Act [7 U.S.C. 1a(4)]); or
(2) the product or commodity is otherwise excluded from the Commodity Exchange Act [7 U.S.C. 1 et seq.].
(Pub. L. 106–554, §1(a)(5) [title IV, §404], Dec. 21, 2000, 114 Stat. 2763, 2763A–459.)
References in TextThe Commodity Exchange Act, referred to in text, is act Sept. 21, 1922, ch. 369, 42 Stat. 998, as amended, which is classified generally to this chapter. For complete classification of this Act to the Code, see section 1 of this title and Tables.
CodificationSection was enacted as part of the Legal Certainty for Bank Products Act of 2000, and also as part of the Commodity Futures Modernization Act of 2000, and not as part of the Commodity Exchange Act which comprises this chapter.
Section Referred to in Other SectionsThis section is referred to in sections 1a, 2, 7a–1, 16, 27, 27d, 27f of this title; title 15 section 78c.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.