2007 ORS 645.020¹
Transactions exempt from prohibition

The prohibitions in ORS 645.010 (Commodity contract or option transactions prohibited) shall not apply to the following:

(1) An account, agreement or transaction within the exclusive jurisdiction of the federal Commodity Futures Trading Commission;

(2) A commodity contract for silver, gold, platinum, palladium, copper or other precious metal as defined by rule of the director whether in coin, bullion or other form if within seven days from the payment of any portion of the purchase price:

(a) The precious metals purchased are delivered to and held on the purchaser’s behalf at a depository not affiliated with the seller which is:

(A) A financial institution;

(B) A depository the warehouse receipts of which are recognized for delivery purposes for any commodity on a contract market designated by the federal Commodity Futures Trading Commission;

(C) A storage facility licensed or regulated by the United States or any agency thereof; or

(D) A depository designated by rule of the director; and

(b) Unless otherwise provided by rule of the director, the depository issues and the purchaser receives an instrument evidencing that such quantity of precious metals has been delivered to the depository on the purchaser’s behalf; and

(3) A commodity contract under which the offeree or the purchaser is a person referred to in ORS 645.015 (Persons exempt from prohibition), an insurance company or an investment company as defined in the federal Investment Company Act of 1940, as amended. [1987 c.148 §6; 1989 c.179 §3; 1997 c.249 §195]

1 Legislative Counsel Committee, CHAPTER 645—Commodity Transactions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­645.­html (2007) (last ac­cessed Feb. 12, 2009).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.