RELATION TO OTHER LAWS.

SEC. 141. RELATION TO OTHER LAWS. Section 502 of the Federal Crop Insurance Act (7 U.S.C. 1502), as amended by section 122, is amended by adding at the end the following: “(d) Relation to Other Laws.— “(1) Terms and conditions of policies and plans.—The terms and conditions of any policy or plan of insurance offered under this title that is reinsured by the Corporation shall not— “(A) be subject to the jurisdiction of the Commodity Futures Trading Commission or the Securities and Exchange Commission; or “(B) be considered to be accounts, agreements (including any transaction that is of the character of, or is commonly known to the trade as, an ‘option’, ‘privilege’, ‘indemnity’, ‘bid’, ‘offer’, ‘put’, ‘call’, ‘advance guaranty’, or ‘decline guaranty’), or transactions involving contracts of sale of a commodity for future delivery, traded or executed on a contract market for the purposes of the Commodity Exchange Act (7 U.S.C. 1 et seq.). “(2) Effect on cftc and commodity exchange act.—Nothing in this title affects the jurisdiction of the Commodity Futures Trading Commission or the applicability of the Commodity Exchange Act (7 U.S.C. 1 et seq.) to any transaction conducted on a contract market under that Act by an approved insurance provider to offset the approved insurance provider’s risk under a plan or policy of insurance under this title.”.