Section 30-1503 - EXEMPT PERSON - TRANSACTIONS(1) The prohibitions in section 30-1502, Idaho Code, shall not apply to any transaction offered by and in which any of the following persons or any employee, officer or director thereof, acting solely in that capacity is the purchaser or seller: (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 or under the laws of this state as a securities broker-dealer whose activities require such registration;(c) A person affiliated with, and whose obligations and liabilities under the transaction are guaranteed by a person referred to in paragraph (a) or (b) of this subsection;(d) A person who is a member of a contract market designated by the commodity futures trading commission or any clearinghouse thereof; or(e) A financial institution.(2) The exemption provided in this section shall not apply to any transaction or activity which is prohibited by the commodity exchange act or CFTC rule.[30-1503, added 1989, ch. 414, sec. 1, p. 1009.]