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ROBERT L. EHRLICH, JR., Governor
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Ch. 568
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(I) A CONTRACT FOR THE PURCHASE OR SALE OF A COMMODITY
FOR FUTURE DELIVERY ON, OR SUBJECT TO THE RULES OF, A BOARD OF TRADE
DESIGNATED AS A CONTRACT MARKET BY THE COMMODITY FUTURES TRADING
COMMISSION UNDER THE FEDERAL COMMODITY EXCHANGE ACT OR BOARD OF
TRADE OUTSIDE THE UNITED STATES;
(II) AN AGREEMENT THAT IS:
1. SUBJECT TO REGULATION UNDER § 19 OF THE FEDERAL
COMMODITY EXCHANGE ACT; AND
2. COMMONLY KNOWN TO THE COMMODITIES TRADE AS A
MARGIN ACCOUNT, MARGIN CONTRACT, LEVERAGE ACCOUNT, OR LEVERAGE
CONTRACT; OR
(III) AN AGREEMENT OR TRANSACTION THAT IS:
1. SUBJECT TO REGULATION UNDER § 4C(B) OF THE
FEDERAL COMMODITY EXCHANGE ACT; AND
2. COMMONLY KNOWN TO THE COMMODITIES TRADE AS A
COMMODITY OPTION.
(3) "CONTRACTUAL RIGHT" MEANS ANY RIGHT, WHETHER OR NOT
EVIDENCED IN WRITING, ARISING UNDER:
(I) STATUTORY LAW, COMMON LAW, OR LAW MERCHANT;
(II) A RULE OR BYLAW OF A NATIONAL SECURITIES EXCHANGE,
NATIONAL SECURITIES CLEARING ORGANIZATION, OR SECURITIES CLEARING
AGENCY; OR
(III) A RULE, BYLAW, OR RESOLUTION OF THE GOVERNING BODY OF
A CONTRACT MARKET OR ITS CLEARING ORGANIZATION.
(4) "FORWARD CONTRACT" MEANS A CONTRACT, OTHER THAN A
COMMODITY CONTRACT, FOR THE PURCHASE, SALE, OR TRANSFER OF:
(I) A COMMODITY, AS DEFINED IN § 1 OF THE FEDERAL
COMMODITY EXCHANGE ACT; OR
(II) ANY SIMILAR GOOD, ARTICLE, SERVICE, RIGHT, OR INTEREST
THAT PRESENTLY IS OR IN THE FUTURE BECOMES THE SUBJECT OF DEALING IN THE
FORWARD CONTRACT TRADE, OR A PRODUCT OR BY-PRODUCT THEREOF, WITH A
MATURITY DATE MORE THAN 2 DAYS AFTER THE DATE THE CONTRACT IS ENTERED
INTO, INCLUDING, BUT NOT LIMITED TO, A REPURCHASE TRANSACTION, REVERSE
REPURCHASE TRANSACTION, CONSIGNMENT, LEASE, SWAP, HEDGE TRANSACTION,
DEPOSIT, LOAN, OPTION, ALLOCATED TRANSACTION, UNALLOCATED TRANSACTION,
OR A COMBINATION OF THESE OR AN OPTION ON ANY OF THEM.
(5) (I) "NETTING AGREEMENT" MEANS A CONTRACT OR AGREEMENT,
INCLUDING TERMS AND CONDITIONS INCORPORATED BY REFERENCE IN THE
CONTRACT OR AGREEMENT, THAT:
- 3231 -
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