Us Code § 432 - Boards of trade dealing in agricultural products; exclusion of representatives of cooperative associations prohibited
Full text of Us Code United States Code § 432 — Boards of trade dealing in agricultural products; exclusion of representatives of cooperative associations prohibited, with citation guidance and answers to common questions.
§ 432. Boards of trade dealing in agricultural products; exclusion of representatives of cooperative associations prohibited
No board of trade whose members are engaged in the business of buying or selling agricultural products or receiving the same for sale on consignment in interstate commerce shall exclude from membership in, and all privileges on, such board of trade, any duly authorized representative of any lawfully formed and conducted cooperative association, corporate or otherwise, composed substantially of producers of agricultural products, or any such representative of any organization acting for a group of such associations, if such association or organization has adequate financial responsibility and complies or agrees to comply with such terms and conditions as are or may be imposed lawfully on other members of such board: Provided, That no rule of a board of trade shall forbid or be construed to forbid the return on a patronage basis by such cooperative association or organization to its bona fide members of moneys collected in excess of the expense of conducting the business of such association.
(Mar. 4, 1927, ch. 508, §2, 44 Stat. 1424.)
About This Section
15 U.S.C. § 432 is part of Title 15 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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