§ 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.