78D-1. Definitions. (1) "Administrator" means the Secretary of State. (2) "Board of Trade" means any person or group of persons engaged in buying or selling any commodity or receiving the same for sale on consignment, whether such person or group of persons is characterized as a board of trade, exchange or other form of marketplace. […]
78D-2. Unlawful commodity transactions. Except as otherwise provided in G.S. 78D-3 or G.S. 78D-4, no person shall sell or purchase or offer to sell or purchase any commodity under any commodity contract or under any commodity option or offer to enter into or enter into as seller or purchaser any commodity contract or any commodity […]
78D-3. Exempt person transactions. The prohibitions in G.S. 78D-2 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: (1) A person registered with the Commodity Futures Trading Commission as a futures […]
78D-4. Exempt transactions. (a) The prohibitions in G.S. 78D-2 shall not apply to the following: (1) An account, agreement or transaction within the exclusive jurisdiction of the Commodity Futures Trading Commission as granted under the Commodity Exchange Act; (2) A commodity contract for the purchase of one or more precious metals which requires, and under […]
78D-5. Unlawful commodity activities. (a) No person shall engage in a trade or business or otherwise act as a commodity merchant unless such person (i) is registered or temporarily licensed with the Commodity Futures Trading Commission for each activity constituting such person as a commodity merchant and such registration or temporary license shall not have […]
78D-6. Fraudulent conduct. No person, shall directly or indirectly: (1) Cheat or defraud, or attempt to cheat or defraud, any other person or employ any device, scheme or artifice to defraud any other person; (2) Make any false report, enter any false record, or make any untrue statement of a material fact or omit to […]
78D-7. Liability of principals, controlling persons and others. (a) The act, omission, or failure of any official, agent, or other person acting for any individual, association, partnership, corporation, or trust within the scope of his employment or office shall be deemed the act, omission, or failure of such individual, association, partnership, corporation, or trust, as […]
78D-8. Securities and laws unaffected. Nothing in this Chapter shall impair, derogate or otherwise affect the authority or powers of the Administrator under Chapters 78A or 78C of the General Statutes or the application of any provision thereof to any person or transaction subject thereto. (1989, c. 634, s. 1.)
78D-9. Purpose. This Chapter may be construed and implemented to effectuate its general purpose to protect investors, to prevent and prosecute illegal and fraudulent schemes involving commodity contracts and to maximize coordination with federal and other states’ laws and the administration and enforcement thereof. This Chapter is not intended to create any rights or remedies […]
