2013 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 15 - IDAHO COMMODITY CODE
Section 30-1501 - DEFINITIONS.
(2) "CFTC rule" means any rule, regulation or order of the commodity futures trading commission in effect on the effective date of this chapter and all subsequent amendments, additions or other revisions thereto, unless the director, within thirty (30) days following the effective date of any such amendment, addition or revision, disallows the application thereof to any provision of this chapter by rule, regulation or order.
(3) "Commodity" means, except as otherwise specified by the director by rule, regulation or order, any agricultural, grain or livestock product or by-product, any metal or mineral including a precious metal as defined in subsection (13) of this section, any gem or gemstone whether characterized as precious, semiprecious or otherwise, any fuel whether liquid, gaseous or otherwise, any foreign currency, and all other goods, articles, products or items of any kind of any other commodity as defined in the commodity exchange act or commodity futures trading commission rules; provided that the term commodity shall not include:
(4) "Commodity contract" means:
(5) "Commodity exchange act" means the act of congress known as the commodity exchange act, as amended, codified at 7 U.S.C. section 1, et seq. and all subsequent amendments, additions or other revisions thereto, unless the director, within thirty (30) days following the effective date of any such amendment, addition or revision, disallows the application thereof to any provision of this chapter by rule, regulation or order.
(6) "Commodity futures trading commission" means the independent regulatory agency established by congress to administer the commodity exchange act.
(7) "Commodity merchant" means any of the following as defined or described in the commodity exchange act or by CFTC rule:
(8) "Commodity option" means:
(9) "Director" means the director of the Idaho department of finance or an agent or employee authorized to act on the director's behalf.
(10) "Financial institution" means a bank, savings institution or trust company organized under, or supervised pursuant to the laws of the United States or this state.
(11) "Offer" includes every offer to sell, offer to purchase, or offer to enter into a commodity contract or commodity option.
(12) "Person" means an individual, a corporation, a partnership, 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, but shall not include a contract market designated by the commodity futures trading commission or any clearinghouse thereof or a national securities exchange registered with the securities and exchange commission, or any employee, officer or director of such contract market, clearinghouse or exchange acting solely in that capacity.
(13) "Precious metal" means the following in either coin, bullion or other form:
(14) "Sale" or "sell" includes every sale, contract of sale, contract to sell, or disposition, for value.
History:
[30-1501, added 1989, ch. 414, sec. 1, p. 1007.]
Disclaimer: These codes may not be the most recent version. Idaho 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 state site. Please check official sources.