CHAPTER 1. Definitions [29500. - 29516.]
Chapter 1 added by Stats. 1990, Ch. 969, Sec. 2.
§§ 29500–29516 · 18 sections
- § 29500 This division shall be known and may be cited as the “California Commodity Law of 1990.” References herein to “this law” refer to the applicable provisions of…
- § 29501 “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 the…
- § 29502 “Business days” are all days other than every Saturday, every Sunday and such other days as are specified or provided for as holidays in the Government Code.
- § 29503 “Commissioner” means the Commissioner of Financial Protection and Innovation.
- § 29504 “Commodity” means, except as otherwise specified by the commissioner by rule or order, any agricultural, grain, or livestock product or byproduct, any metal or…
- § 29505 (a) “Commodity contract” means any account, agreement, or contract for the purchase or sale, primarily for speculation or investment purposes and not for use…
- § 29506 “Commodity Exchange Act” means the federal statute so named, as amended before or after January 1, 1991.
- § 29507 “Commodity Futures Trading Commission” means the independent regulatory agency established by Congress to administer the Commodity Exchange Act.
- § 29508 “CFTC Rule” means any rule, regulation, or order of the Commodity Futures Trading Commission in effect on January 1, 1991, and all subsequent amendments,…
- § 29509 “Commodity merchant” means any of the following, as defined or described in the Commodity Exchange Act or by CFTC Rule: (a) Futures commission merchant. (b)…
- § 29510 “Commodity option” means any account, agreement, or contract giving a party thereto the right but not the obligation to purchase or sell one or more…
- § 29511 “Financial institution” means (a) a national bank or a bank or trust company incorporated under the laws of this state, (b) a federal savings and loan…
- § 29512 “Good funds” means the verified receipt of immediately available funds according to the applicable requirements of federal Regulation CC.
- § 29513 “Offer” includes every offer to sell, offer to purchase, or offer to enter into a commodity contract or commodity option.
- § 29514 “Person” means an individual, a corporation, a partnership, a limited liability company, an association, a joint stock company, a trust, an unincorporated…
- § 29515 “Precious metal” means the following in either coin, bullion, or other form: (a) Silver. (b) Gold. (c) Platinum. (d) Palladium. (e) Copper. (f) Other items…
- § 29515.5 “Purchase price” means all funds paid by or on behalf of a purchaser to a seller of a commodity contract or a commodity option (or to another person at the…
- § 29516 “Sale” or “sell” includes every sale, contract of sale, contract to sell, or disposition, for value.