7 U.S.C. § 15 — Omitted

Page 125 TITLE 7—AGRICULTURE § 15b Pub. L. 93–463, title I, § 103(a), (b), Oct. 23, 1974, 88 Stat. 1392; Pub. L. 97–444, title II, § 230, Jan. 11, 1983, 96 Stat. 2319; Pub. L. 102–546, title IV, § 402(1)(D), (9)(C), Oct. 28, 1992, 106 Stat. 3624, 3625.) Editorial Notes AMENDMENTS 1992—Subsec. (c). Pub. L. 102–546, § 402(9)(C), which di- rected that ‘‘the Secretary of Agriculture or’’ be struck out, could not be executed because of amendment by Pub. L. 93–463, § 103(a). See 1974 Amendment note below. Pub. L. 102–546, § 402(1)(D), substituted ‘‘Commission’’ for ‘‘commission’’ before ‘‘to report’’. 1983—Subsec. (a). Pub. L. 97–444, § 230(1), struck out ‘‘in administrative proceedings under this chapter’’ after ‘‘may be held responsible’’. Subsecs. (b), (c). Pub. L. 97–444, § 230(2), (3), added sub- sec. (b) and redesignated former subsec. (b) as (c). 1974—Subsec. (b). Pub. L. 93–463, § 103(a), provided for substitution of ‘‘Commission’’ for ‘‘Secretary of Agri- culture’’ except where such words would be stricken by section 103(b), which directed striking the words ‘‘the Secretary of Agriculture or’’ where they appeared in the phrase ‘‘the Secretary of Agriculture or the Com- mission’’. Because the word ‘‘commission’’ was not cap- italized in the text of this section, section 103(b) did not apply to this section and therefore section 103(a) was executed, resulting in the substitution of ‘‘the Commis- sion or the commission’’ for ‘‘the Secretary of Agri- culture or the commission’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1983 AMENDMENT Amendment by Pub. L. 97–444 effective Jan. 11, 1983, see section 239 of Pub. L. 97–444, set out as a note under section 2 of this title. EFFECTIVE DATE OF 1974 AMENDMENT For effective date of amendment by Pub. L. 93–463, see section 418 of Pub. L. 93–463, set out as a note under section 2 of this title. EFFECTIVE DATE Section effective 120 days after Feb. 19, 1968, see sec- tion 28 of Pub. L. 90–258, set out as an Effective Date of 1968 Amendment note under section 2 of this title. § 14. Repealed. Pub. L. 99–641, title I, § 110(5), Nov. 10, 1986, 100 Stat. 3561 Section, act Sept. 21, 1922, ch. 369, § 11, 42 Stat. 1003, provided that violations of this chapter occurring be- fore Nov. 1, 1922, should not be punishable. § 15. Omitted Editorial Notes CODIFICATION Section, act Sept. 21, 1922, ch. 369, § 6(c) (part), for- merly § 6(b), 42 Stat. 1002, as amended and renumbered, which related to enforcement powers of Commission, was omitted in the general amendment of section 6(c) of act Sept. 21, 1922, by Pub. L. 111–203, title VII, § 753(a), July 21, 2010, 124 Stat. 1750. Section 6(c) is now classified to section 9 of this title. § 15a. Repealed. Pub. L. 95–405, § 24, Sept. 30, 1978, 92 Stat. 877 Section, Pub. L. 93–463, title II, § 217, Oct. 23, 1974, 88 Stat. 1405, related to leverage contracts for gold and silver. See section 23(b) of this title. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective Oct. 1, 1978, see section 28 of Pub. L. 95–405, set out as an Effective Date of 1978 Amendment note under section 2 of this title. § 15b. Cotton futures contracts (a) Short title This section may be cited as the ‘‘United States Cotton Futures Act’’. (b) Omitted (c) Definitions For purposes of this section— (1) Cotton futures contract The term ‘‘cotton futures contract’’ means any contract of sale of cotton for future deliv- ery made at, on, or in any exchange, board of trade, or similar institution or place of busi- ness which has been designated a ‘‘contract market’’ by the Commodity Futures Trading Commission pursuant to the Commodity Ex- change Act [7 U.S.C. 1 et seq.] and the term ‘‘contract of sale’’ as so used shall be held to include sales, agreements of sale, and agree- ments to sell, except that— (A) any cotton futures contract that, by its terms, is settled in cash is excluded from the coverage of this paragraph and section; and (B) any cotton futures contract that per- mits tender of cotton grown outside of the United States is excluded from the coverage of this paragraph and section to the extent that the cotton grown outside of the United States is tendered for delivery under the cot- ton futures contract. (2) Future delivery The term ‘‘future delivery’’ shall not include any cash sale of cotton for deferred shipment or delivery. (3) Person The term ‘‘person’’ includes an individual, trust, estate, partnership, association, com- pany, or corporation. (4) Secretary The term ‘‘Secretary’’ means the Secretary of Agriculture of the United States. (5) Standards The term ‘‘standards’’ means the official cotton standards of the United States estab- lished by the Secretary pursuant to the United States Cotton Standards Act, as amended [7 U.S.C. 51 et seq.]. (d) Bona fide spot markets and commercial dif- ferences (1) Definition For purposes of this section, the only mar- kets which shall be considered bona fide spot markets shall be those which the Secretary shall, from time to time, after investigation, determine and designate to be such, and of which he shall give public notice. (2) Determination In determining, pursuant to the provisions of this section, what markets are bona fide