§ 431. — Definitions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC431]
TITLE 15--COMMERCE AND TRADE
CHAPTER 12--DISCRIMINATION AGAINST FARMERS' COOPERATIVE ASSOCIATIONS BY
BOARDS OF TRADE
Sec. 431. Definitions
When used in this chapter (a) the term ``agricultural products'',
means agricultural, horticultural, viticultural, and dairy products,
food products of livestock, the products of poultry and bee raising, the
edible products of forestry, and any and all products raised or produced
on farms and processed or manufactured products thereof, transported or
intended to be transported in interstate and/or foreign commerce.
(b) The words ``board of trade'' shall be held to include and mean
any exchange or association, whether incorporated or unincorporated, of
persons who shall be engaged in the business of buying or selling
agricultural products or receiving the same for sale on consignment,
except markets designated as contract markets under the Commodity
Exchange Act [7 U.S.C. 1 et seq.].
(c) The words ``interstate commerce'' shall be construed to mean
commerce between any State, Territory, or possession, or the District of
Columbia, and any place outside thereof; or between points within the
same State, Territory, or possession, or the District of Columbia, but
through any place outside thereof, or within any Territory or
possession, or the District of Columbia.
(d) For the purposes of this chapter (but not in any wise limiting
the foregoing definition of interstate commerce) a transaction in
respect to any article shall be considered to be in interstate commerce
if such article is part of that current of commerce usual in dealing in
agricultural products whereby they are sent from one State with the
expectation that they will end their transit, after purchase, in
another, including, in addition to cases within the above general
description, all cases where purchase or sale is either for shipment to
another State or for manufacture within the State and the shipment
outside the State of the products resulting from such manufacture.
Articles normally in such current of commerce shall not be considered
out of such commerce through resort being had to any means or device
intended to remove transactions in respect thereto from the provisions
of this chapter. For the purpose of this paragraph the word ``State''
includes Territory, the District of Columbia, possession of the United
States, and foreign nation.
(e) The word ``person'' shall be construed to import the plural or
singular, and shall include individuals, associations, partnerships,
corporations, and trusts.
(f) The act, omission, or failure of any official, agent, or other
person acting for any individual, association, partnership, corporation,
or trust, within the scope of his employment or office, shall be deemed
the act, omission, or failure of such individual, association,
partnership, corporation, or trust, as well as of such official, agent,
or other person.
(Mar. 4, 1927, ch. 508, Sec. 1, 44 Stat. 1423; June 15, 1936, ch. 545,
Sec. 1, 49 Stat. 1491.)
References in Text
The Commodity Exchange Act, referred to in subsec. (b), is act Sept.
21, 1922, ch. 369, 42 Stat. 998, as amended, which is classified
generally to chapter 1 (Sec. 1 et seq.) of Title 7, Agriculture. For
complete classification of this Act to the Code, see section 1 of Title
7 and Tables.
Amendments
1936--Subsec. (b). Act June 15, 1936, substituted ``Commodity
Exchange Act'' for ``Grain Futures Act''.