California Corporations Code CHAPTER 1 - Definitions

• Section 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...
• Section 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,...
• Section 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...
• Section 29503.
  “Commissioner” means the Commissioner of Business Oversight.(Amended by Stats. 2013, Ch. 353, Sec. 44. (SB 820) Effective September 26, 2013. Operative July 1, 2013, by...
• Section 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 mineral...
• Section 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 or consumption...
• Section 29506.
  “Commodity Exchange Act” means the federal statute so named, as amended before or after January 1, 1991.(Added by Stats. 1990, Ch. 969, Sec. 2.)
• Section 29507.
  “Commodity Futures Trading Commission” means the independent regulatory agency established by Congress to administer the Commodity Exchange Act.(Added by Stats. 1990, Ch. 969, Sec. 2.)
• Section 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, additions,...
• Section 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) Commodity pool operator....
• Section 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...
• Section 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...
• Section 29512.
  “Good funds” means the verified receipt of immediately available funds according to the applicable requirements of federal Regulation CC.(Added by Stats. 1990, Ch. 969, Sec.
• Section 29513.
  “Offer” includes every offer to sell, offer to purchase, or offer to enter into a commodity contract or commodity option.(Added by Stats. 1990, Ch. 969,...
• Section 29514.
  “Person” means an individual, a corporation, a partnership, a limited liability company, an association, a joint stock company, a trust, an unincorporated organization, a government,...
• Section 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 that the commissioner may specify by rule or order.(Added by Stats. 1990,...
• Section 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...
• Section 29516.
  “Sale” or “sell” includes every sale, contract of sale, contract to sell, or disposition, for value.(Added by Stats. 1990, Ch. 969, Sec. 2.)

Last modified: October 22, 2018