(1) In addition to specific authority granted elsewhere in this article, the commissioner may make, amend, and rescind such rules, forms, and orders as are necessary to carry out the provisions of this article. Such rules or forms shall include, but need not be limited to, rules defining any terms, whether or not used in this article, insofar as the definitions are not inconsistent with the provisions of this article. For the purpose of rules or forms, the commissioner may classify commodities, commodity contracts, commodity options, persons, and matters within the commissioner's jurisdiction.
(2) Unless specifically provided in this article, no rule, form, or order may be adopted, amended, or rescinded unless the commissioner finds that the action is:
Necessary or appropriate in the public interest or for the protection of investors; and
Consistent with the purposes fairly intended by the policy and provisions of thisarticle.
All rules and forms of the commissioner shall be published.
No provision of this article imposing any liability applies to any act done or omittedin good faith in conformity with a rule, order, or form adopted by the commissioner, notwithstanding that the rule, order, or form may later be amended, or rescinded, or be determined by judicial or other authority to be invalid for any reason.
Source: L. 89: Entire article R&RE, p. 639, § 1, effective July 1.