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
Structure Iowa Code
Chapter 502A - COMMODITIES CODE
Section 502A.2 - Unlawful commodity transactions.
Section 502A.3 - Exempt person transactions.
Section 502A.4 - Exempt transactions.
Section 502A.5 - Unlawful commodity activities.
Section 502A.6 - Fraudulent conduct.
Section 502A.7 - Liability of principals, controlling persons, and others.
Section 502A.8 - Securities laws unaffected.
Section 502A.11 - Investigations.
Section 502A.12 - Enforcement of chapter.
Section 502A.13 - Power of court to grant relief.
Section 502A.14 - Criminal penalties.
Section 502A.15 - Administration of chapter.
Section 502A.16 - Cooperation with other agencies.
Section 502A.17 - General authority to adopt rules, forms, and orders.
Section 502A.18 - Consent to service of process.
Section 502A.19 - Chapter scope.
Section 502A.20 - Effect of pending judicial review.