2014 Iowa Code
TITLE XII - BUSINESS ENTITIES
SUBTITLE 4 - SECURITIES
CHAPTER 502A - COMMODITIES CODE
SECTION 502A.5 - Unlawful commodity activities.
502A.5 Unlawful commodity activities.
1. A person shall not engage in a trade or business or otherwise act as a commodity merchant unless the person is either of the following:
a. Registered or temporarily licensed with the commodity futures trading commission for each activity constituting the person as a commodity merchant and the registration or temporary license has not expired, been suspended, or revoked.
b. Exempt from such registration by virtue of the Commodity Exchange Act or of a CFTC rule.
2. A board of trade shall not trade, or provide a place for the trading of, any commodity contract or commodity option required to be traded on or subject to the rules of a contract market designated by the commodity futures trading commission unless the board of trade has been so designated for the commodity contract or commodity option and the designation has not been vacated, suspended, or revoked.
90 Acts, ch 1169, §5
Referred to in §502A.19
Disclaimer: These codes may not be the most recent version. Iowa 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.
