A bucket shop is hereby defined to be a shed, tent, tenement, booth, building, float or vessel, or any part thereof, wherein may be made contracts respecting the purchase or sale upon margin or credit of any commodities, securities, or property, or option for the purchase thereof, wherein both parties intend that such contract shall or may be terminated, closed and settled; either,
(1) Upon the basis of the market prices quoted or made on any board of trade or exchange upon which such commodities, securities, or property may be dealt in; or,
(2) When the market prices for such commodities, securities or property shall reach a certain figure in any such board of trade or exchange; or,
(3) On the basis of the difference in the market prices at which said commodities, securities or property are, or purport to be, bought and sold.
[1909 c 249 § 223; RRS § 2475.]
Securities and investments: Title 21