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U.S. Code as of:
01/19/04
Section 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.
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