The prohibition in Subsection B of Section 3 [58-13A-3 NMSA 1978] of the Model State Commodity Code shall not apply to any of the following persons, or any employee, officer or director thereof acting solely in that capacity: A. a person registered with the commodity futures trading commission as a futures commission merchant or as a leverage transaction merchant whose activities require such registration; B. a person registered with the securities and exchange commission as a broker-dealer whose activities require such registration; C. a person affiliated with, and whose obligations and liabilities are guaranteed by, a person referred to in Subsection A or B of this section; D. a person who is a member of a contract market designated by the commodity futures trading commission or any clearinghouse thereof; E. a financial institution; or F. a person registered under the laws of this state as a securities broker-dealer whose activities require such registration. History: Laws 1985, ch. 163, § 4.
New Mexico Legal Code