(A) No person may engage in a trade or business or otherwise act as a commodity merchant unless he:
(1) is 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 or been suspended or revoked; or
(2) is exempt from registration by virtue of the Commodity Exchange Act or of a CFTC Rule.
(B) No board of trade may trade or provide a place for the trading of a 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.
HISTORY: 1993 Act No. 68, Section 1, eff 200 days after approval (approved May 14, 1993).
Structure South Carolina Code of Laws
Chapter 73 - State Commodity Code
Section 39-73-10. Definitions.
Section 39-73-20. Commodity transactions under commodity contract or option restricted.
Section 39-73-30. Purchasers or sellers as to whom prohibition not applicable.
Section 39-73-40. Transactions as to which prohibition not applicable.
Section 39-73-60. Prohibited acts.
Section 39-73-70. Agency, vicarious, and joint and several liability.
Section 39-73-80. Chapter not to impair other state securities laws.
Section 39-73-90. Construction and implementation of chapter; no private right of action created.
Section 39-73-315. Action by administrator to prevent violation or imminent violation.
Section 39-73-320. Legal, equitable, and special remedies available to court for enforcement.
Section 39-73-335. Cooperation with other jurisdictions; joint action.
Section 39-73-355. Administrative proceedings; notice; hearing; order.
Section 39-73-360. Judicial review.