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Indiana Code Title 23. Business and Other Associations § 23-2-6-18

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 18. (a) The prohibitions set forth in section 17 of this chapter do not apply to any transaction offered by any of the following persons (or any employee, officer, or director of the person who is acting solely in that capacity) if the person is the purchaser or seller in the transaction:

(1) A person:

(A) who is registered with the Commodity Futures Trading Commission as a futures commission merchant, a leverage transaction merchant, an introducing broker, or an associated person of an introducing broker;  and

(B) whose activities require that registration.

(2) A person registered with the Securities and Exchange Commission as a broker-dealer whose activities require that registration.

(3) A person:

(A) who is affiliated with;  and

(B) whose obligations and liabilities under the transaction are guaranteed by;

a person described in subdivision (1) or (2).

(4) A person who is a member of a contract market designated by the Commodity Futures Trading Commission or any clearinghouse of the Commodity Futures Trading Commission.

(5) A financial institution.

(6) A person registered in Indiana as a securities broker-dealer whose activities require that registration.

(b) The exemption provided by subsection (a) does not apply to any transaction or activity that is prohibited by the Commodity Exchange Act or by a CFTC rule.

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-2-6-18 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-2-6-18/

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