2-1601. “Board of trade” defined. The term “board of trade” means and includes any exchange or association, incorporated or not, of persons who are engaged in the business of buying or selling grain or receiving the same for sale on consignment. History: L. 1925, ch. 6, § 1; February 23.
2-1602. Dealing in futures. All transactions in grain, including and involving the sale thereof for future delivery, as commonly conducted on boards of trade, and known as “futures” are affected with a public interest. History: L. 1925, ch. 6, § 2; February 23.
2-1603. Contract market. All boards of trade which have not been designated a contract market by the secretary of agriculture under the act of congress are hereby declared to be and are designated as “a contract market” and affected with a public interest. History: L. 1925, ch. 6, § 3; February 23.
2-1604. Membership. No board of trade shall exclude from, or refuse membership therein, nor deny any of the privileges thereof to any duly authorized representative of any lawfully formed and conducted co-operative association of producers, having adequate financial responsibility, which is engaged in cash grain business if such co-operative association has complied with such terms […]
