30-1503. EXEMPT PERSON — TRANSACTIONS. (1) The prohibitions in section 30-1502, Idaho Code, shall not apply to any transaction offered by and in which any of the following persons or any employee, officer or director thereof, acting solely in that capacity is the purchaser or seller:
(a) A person registered with the commodity futures trading commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration;
(b) A person registered with the securities and exchange commission or under the laws of this state as a securities broker-dealer whose activities require such registration;
(c) A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by a person referred to in paragraph (a) or (b) of this subsection;
(d) A person who is a member of a contract market designated by the commodity futures trading commission or any clearinghouse thereof; or
(e) A financial institution.
(2) The exemption provided in this section shall not apply to any transaction or activity which is prohibited by the commodity exchange act or CFTC rule.
History:
[30-1503, added 1989, ch. 414, sec. 1, p. 1009.]
Structure Idaho Code
Chapter 15 - IDAHO COMMODITY CODE
Section 30-1501 - DEFINITIONS.
Section 30-1502 - UNLAWFUL COMMODITY TRANSACTIONS.
Section 30-1503 - EXEMPT PERSON — TRANSACTIONS.
Section 30-1504 - EXEMPT TRANSACTIONS.
Section 30-1505 - UNLAWFUL COMMODITY ACTIVITIES.
Section 30-1506 - FRAUDULENT CONDUCT — LIABILITY OF PRINCIPALS, CONTROLLING PERSONS AND OTHERS.
Section 30-1507 - SECURITIES STATUTES UNAFFECTED.
Section 30-1509 - INVESTIGATIONS.
Section 30-1510 - ENFORCEMENT.
Section 30-1511 - POWER OF COURT TO GRANT RELIEF.
Section 30-1512 - CRIMINAL PENALTIES.
Section 30-1513 - ADMINISTRATION — RULES AND FORMS.
Section 30-1514 - COOPERATION WITH OTHER AGENCIES.
Section 30-1515 - CONSENT TO SERVICE OF PROCESS.
Section 30-1517 - PROCEDURE FOR ENTRY OF AN ORDER.
Section 30-1518 - JUDICIAL REVIEW OF ORDERS.