Nevada § 91.210 - Transactions exempted

§ 91.210. Transactions exempted

1. The prohibitions in NRS 91.190 do not apply to the following: (a) An account, agreement or transaction within the exclusive jurisdiction of the

Commodity Futures Trading Commission granted under the Commodity Exchange Act. (b) A commodity contract for the purchase of one or more precious metals which requires,

and under which the purchaser receives, within 7 calendar days after the payment of

any portion of the purchase price, physical delivery of the quantity of the precious

metals purchased by the payment. For purposes of this paragraph, physical delivery shall be deemed to have occurred

if, within the 7-day period, the quantity of precious metals purchased by the payment

is delivered, whether in specifically segregated or fungible bulk form, into the possession

of a depository other than the seller which is either: (1) A financial institution; (2) A depository the warehouse receipts of which are recognized for delivery purposes

for any commodity on a contract market designated by the Commodity Futures Trading

Commission; (3) A storage facility licensed or regulated by the United States or any agency thereof;

or (4) A depository designated by the Administrator, and the depository issues, and the purchaser receives, a certificate, record of title,

confirmation or other instrument evidencing that such a quantity of precious metals

has been delivered to the depository and is being and will continue to be held by

the depository on the purchaser's behalf, free and clear of all liens and encumbrances,

other than liens of the purchaser, tax liens, liens agreed to by the purchaser, or

liens of the depository for fees and expenses, which have previously been disclosed

to the purchaser. (c) A commodity contract solely between persons engaged in producing, processing,

using commercially or handling as merchants, each commodity subject thereto, or any

by-product thereof. (d) A commodity contract under which the offeree or the purchaser is a person referred

to in NRS 91.200 , an insurance company, an investment company as defined in the Investment Company

Act of 1940, 1 or an employee pension and profit-sharing or benefit plan, other than a self-employed

individual retirement plan or individual retirement account. 2. The Administrator may adopt regulations or issue orders prescribing the terms and

conditions of all transactions and contracts covered by the provisions of this chapter

which are not within the exclusive jurisdiction of the Commodity Futures Trading Commission

granted by the Commodity Exchange Act, exempting any person or transaction from any

provision of this chapter conditionally or unconditionally and otherwise implementing

the provisions of this chapter for the protection of purchasers and sellers of commodities. 1

See 15 USCA § 78a-1 et seq.