2015 US Code
Title 15 - Commerce and Trade (Sections 1 - 8405)
Chapter 12 - Discrimination Against Farmers' Cooperative Associations by Boards of Trade (Sections 431 - 433)
Sec. 432 - Boards of trade dealing in agricultural products; exclusion of representatives of cooperative associations prohibited

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Publication TitleUnited States Code, 2012 Edition, Supplement 3, Title 15 - COMMERCE AND TRADE
CategoryBills and Statutes
CollectionUnited States Code
SuDoc Class NumberY 1.2/5:
Contained WithinTitle 15 - COMMERCE AND TRADE
CHAPTER 12 - DISCRIMINATION AGAINST FARMERS' COOPERATIVE ASSOCIATIONS BY BOARDS OF TRADE
Sec. 432 - Boards of trade dealing in agricultural products; exclusion of representatives of cooperative associations prohibited
Containssection 432
Date2015
Laws In Effect As Of DateJanuary 3, 2016
Positive LawNo
Dispositionstandard
Source CreditMar. 4, 1927, ch. 508, §2, 44 Stat. 1424.
Statutes at Large Reference44 Stat. 1424

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15 U.S.C. § 432 (2015)

§432. Boards of trade dealing in agricultural products; exclusion of representatives of cooperative associations prohibited

No board of trade whose members are engaged in the business of buying or selling agricultural products or receiving the same for sale on consignment in interstate commerce shall exclude from membership in, and all privileges on, such board of trade, any duly authorized representative of any lawfully formed and conducted cooperative association, corporate or otherwise, composed substantially of producers of agricultural products, or any such representative of any organization acting for a group of such associations, if such association or organization has adequate financial responsibility and complies or agrees to comply with such terms and conditions as are or may be imposed lawfully on other members of such board: Provided, That no rule of a board of trade shall forbid or be construed to forbid the return on a patronage basis by such cooperative association or organization to its bona fide members of moneys collected in excess of the expense of conducting the business of such association.

(Mar. 4, 1927, ch. 508, §2, 44 Stat. 1424.)

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