PURPOSE: This rule explains the interpretation made by the Missouri Department of Agriculture of provisions contained in sections 276.401— 276.581, RSMo which may be confusing or subject to differing interpretations by interested members of the public.

1. (1) The exemption under the definition of grain dealer as found in section 276.401(9)(a), RSMo is deemed to mean that a person or entity who trades exclusively in grain futures contracts on a recognized board of trade or futures exchange shall not be subject to sections 276.401—276.581, RSMo.
2. (2) The exemption under the definition of grain dealer as found in section 276.401(9)(a), RSMo is also deemed to mean that a person or entity who is a member of a recognized board of trade or futures exchange and who buys grain from a licensed warehouseman, licensed grain dealer, farmer/producer or any other individual or entity in a manner other than through the purchase of a grain futures contract on a recognized board of trade or futures exchange shall be subject to sections 276.401— 276.581, RSMo.

AUTHORITY: section 276.406, RSMo (1986).* Original rule filed March 15, 1982, effective June 11, 1982. *Original authority 1980, amended 1986.