2005 Arizona Revised Statutes - Revised Statutes §44-1655  Making or offering to make future contract; classification; defense

A. A person who makes or offers to make for himself a future contract is guilty of a class 3 misdemeanor.

B. It may be shown in defense of a prosecution under this section that the transaction out of which the prosecution arose was a "hedging" contract between parties in this state and parties without the state, and if such contract was made wholly or in part by a message sent by telegraph or telephone, that such message was delivered to the person sending it by the defendant himself, and not through or by any broker or agent, and that the person rendering the service was a common carrier, exclusively engaged as a common carrier with no connection with or interest in such transaction other than the transmission of the message and receiving the charges therefor which are not in excess of the usual rate for commission messages between the points of transmission and receipt of such message.