§ 750.127Bucket shop; definition

Sec. 127.
    Bucket shops defined—A bucket shop, within the meaning of this chapter, is defined to be
 an office, store or other place wherein the proprietor or keeper thereof, or other person or
 agent, either in his or its own behalf, or as the agent or correspondent of any other person,
 corporation, association or copartnership within or without the state conducts the business of
 making or offering to make contracts, agreements, trades or transactions respecting the
 purchase or sale, or purchase and sale of any stocks, grains, provisions or other commodity or
 personal property wherein both parties thereto, or said proprietor or keeper contemplated or
 intended that the contracts, agreements, trades or transactions shall be, or may be closed,
 adjusted or settled according to or upon the basis of the market quotations or price made on
 any board of trade or exchange, upon which the commodities or securities referred to in such
 contracts, agreements, trades or transactions are dealt in, and without a bona fide transaction
 on such board of trade or exchange, or wherein both parties or such keeper or proprietor shall
 contemplate or intend that such contracts, agreements, trades or transactions shall be or may
 be deemed closed or terminated, when the market quotations of prices made on such board of
 trade or exchange for the articles or securities named in such contracts, agreements, trades or
 transactions shall reach a certain figure, and also any office, store or other place where the
 keeper, person or agent or proprietor thereof, either in his or its own behalf, or as an agent as
 aforesaid therein, makes or offers to make, with others, contracts, trades or transactions for the
 purchase or sale of any such commodity, wherein the parties thereto do not contemplate the
 actual or bona fide receipt or delivery of such property, but do contemplate a settlement
 thereof based upon differences in the price at which said property is or is claimed to be bought
 and sold. The said crime shall be complete against any proprietor, person, agent or keeper thus



                                                                 Michigan Compiled Laws Complete Through PA 91 of 2026
Rendered Sunday, September 6, 2026            Page 78 of 465                              Courtesy of legislature.mi.gov

 offering to make any such contracts, trades or transactions, whether such offer is accepted or
 not.