§ 432. — Boards of trade dealing in agricultural products; exclusion of representatives of cooperative associations prohibited.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC432]
TITLE 15--COMMERCE AND TRADE
CHAPTER 12--DISCRIMINATION AGAINST FARMERS' COOPERATIVE ASSOCIATIONS BY
BOARDS OF TRADE
Sec. 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, Sec. 2, 44 Stat. 1424.)
Section Referred to in Other Sections
This section is referred to in section 433 of this title.
