Section 553. Notes given for a speculative consideration  


Latest version.
  • A person who
      takes, sells or transfers a negotiable promissory  note  within  article
      three  of the uniform commercial code, knowing the consideration of such
      note to consist in whole or in part of the purchase price  of  any  farm
      product  at  a  price greater by four or more times than the fair market
      value of the same product at the time in the locality, or in  which  the
      consideration  shall be in whole or in part, membership of and rights in
      an association, company or combination  to  produce  or  sell  any  farm
      product  at  a  fictitious rate, or of a contract or bond to purchase or
      sell any farm product at such rate, without having the words "given  for
      a  speculative  consideration" or other words clearly showing the nature
      of the consideration prominently and legibly written or printed  on  the
      face  of  such  note  above  the  signature  thereof,  is  guilty  of  a
      misdemeanor.