---
title: O.C.G.A. § 13-9-3. Contracts of sale for future delivery of cotton, grain, stocks, or other commodities, absent bona fide intention of parties as to delivery, execution of contract upon floor of exchange declared null and void; penalty for entering into or assisting entering into such contracts.
collection: code
id: 13-9-3
cite_as: O.C.G.A. § 13-9-3 (2025)
canonical_url: https://georgiacommons.org/code/13-9-3
md_url: https://georgiacommons.org/code/13-9-3.md
text_url: https://georgiacommons.org/code/13-9-3/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t13-(v11)-2010-pdf.pdf?sfvrsn=e4dbdcfd_0#page=596
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: CONTRACTS / CONTRACTS FOR FUTURE DELIVERY OF COTTON, GRAIN, ETC.
---

# O.C.G.A. § 13-9-3. Contracts of sale for future delivery of cotton, grain, stocks, or other commodities, absent bona fide intention of parties as to delivery, execution of contract upon floor of exchange declared null and void; penalty for entering into or assisting entering into such contracts.

(a) Any contract of sale for future delivery of cotton, grain, stocks, or other commodities shall be null and void and unenforceable in any court by any party thereto where it is not the bona fide intention of a party to the contract that the cotton, grain, stocks, or other commodities mentioned therein are to be delivered, but that the contract be settled according to or upon the basis of the public market quotations or prices made on any board of trade, exchange, or other similar institution, without any actual bona fide execution and the carrying out of such contract upon the floor of such exchange, board of trade, or similar institution, in accordance with the rules thereof.

(b) Any person, either as agent or principal, who enters into or assists in making a contract of sale for the future delivery of cotton, grain, stocks, or other commodities of the nature provided for in subsection (a) of this Code section shall be guilty of a felony and, upon conviction, shall be imprisoned for a period not exceeding two years.

## History

Ga. L. 1929, p. 245, §§ 3, 6; Code 1933, §§ 20-603, 20-9901.

## Cross References

Gambling generally, § 16-12-20.

## Law Reviews

For note, ‘‘Recovery of Losses on Cotton Futures,’’ see 1 Ga. L. Rev. No. 1, p. 43 (1927).