7 U.S.C. § 13–1 — Violations, prohibition against dealings in motion picture box office receipts or onion futures; punishment

submitted 68 years ago by Pub. L. 85-839 to r/title-7-AGRICULTURE · 99 words · no verdicts yet

in plain englishAI-generated · not legal advice

No board of trade in the U.S. can allow contracts for future delivery of onions, or of motion picture box office receipts, to be made under its rules. Breaking this rule is a misdemeanor punishable by a fine of up to $5,000.

(a) — No exchange or board of trade in the United States may allow a contract for the future delivery of two things: motion picture box office receipts (or any index, measure, value, or data related to those receipts), or onions. Words used in this section mean the same thing they mean in the Commodity Exchange Act. (b) — Anyone who violates this section is guilty of a misdemeanor. If convicted, they can be fined up to $5,000.

the actual law source: uscode.house.gov ↗public domain

(a)

No contract for the sale of motion picture box office receipts (or any index, measure, value, or data related to such receipts) or onions for future delivery shall be made on or subject to the rules of any board of trade in the United States. The terms used in this section shall have the same meaning as when used in the Commodity Exchange Act [7 U.S.C. 1 et seq.].

(b)

Any person who shall violate the provisions of this section shall be deemed guilty of a misdemeanor and upon conviction thereof be fined not more than $5,000.

Source credit: (Pub. L. 85–839, § 1, Aug. 28, 1958, 72 Stat. 1013; Pub. L. 111–203, title VII, § 721(e)(10), July 21, 2010, 124 Stat. 1672.)

history & why it existsrecord from the source credit

1958Enacted · Pub. L. 85-839 · 72 Stat. 1013
2010Amended · Pub. L. 111-203 · 124 Stat. 1672

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-839 on 1958-08-28.

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