351 - Acts prohibited; penalty for violation.

§   351.   Acts   prohibited;   penalty  for  violation.  Any  person,  copartnership, firm, association or corporation, whether acting in  his,  their  or its own right or as the officer, agent, servant, correspondent  or representative of another, who shall: 1. Make or offer  to  make,  or  assist  in  making  or  offering  to  make  any  contract respecting the  purchase or sale, either upon credit or margin,  of  any  securities  or  commodities, including all evidences of debt or property and options for  the  purchase  thereof, shares in any corporation or association, bonds,  coupons, scrip, rights, choses in action and other evidences of debt  or  property  and  options for the purchase thereof or anything movable that  is bought and sold, intending that such contract  shall  be  terminated,  closed  or  settled according to, or upon the basis of the public market  quotations of or prices made on any board of trade or exchange or market  upon which such commodities or securities  are  dealt  in,  and  without  intending a bona fide purchase or sale of the same; or,    2.  Makes  or  offers to make or assists in making or offering to make  any contract respecting the purchase or  sale,  either  upon  credit  or  margin,  of  any  such  securities  or  commodities  intending that such  contract shall be deemed terminated, closed and settled when such market  quotations of or such prices for such securities or commodities named in  such contract shall reach a certain figure,  without  intending  a  bona  fide purchase or sale of the same; or,    3.  Makes  or offers to make, or assists in making or offering to make  any contract respecting the purchase or  sale,  either  upon  credit  or  margin  of  any such securities or commodities, not intending the actual  bona fide receipt or delivery of any such securities or commodities, but  intending a settlement of such contract based  upon  the  difference  in  such public market quotations of or such prices at which said securities  or commodities are, or are asserted to be, bought or sold; or,    4.  Shall,  as owner, keeper, proprietor or person in charge of, or as  officer,  director,  stockholder,  agent,  servant,   correspondent   or  representative of such owner, keeper, proprietor or person in charge of,  or  as officer, director, stockholder, agent, servant, correspondent, or  representative of such owner, keeper, proprietor or person in charge, or  of any other person, keep,  conduct  or  operate  any  bucket  shop,  as  hereinafter  defined; or knowingly permit or allow or induce any person,  copartnership, firm, association or corporation whether acting  in  his,  their or its own right, or as the officer, agent, servant, correspondent  or  representative  of  another  to make or offer to make therein, or to  assist in making therein, or in offering to make  therein,  any  of  the  contracts  specified  in any of the three preceding subdivisions of this  section.    Shall be  guilty  of  a  felony.    The  prosecution,  conviction  and  punishment  of  a  corporation  hereunder  shall  not  be deemed to be a  prosecution, conviction or punishment of any of its officers,  directors  or stockholders.