Pennsylvania law sections 7317, 7318, and 7319 address illegal activities related to bucket-shops, including transmitting price quotes, maintaining premises, and contracts. Violations can result in misdemeanors, fines, and forfeiture of corporate charters. The laws aim to prevent illegal gambling and trading practices associated with bucket-shops.
A bucket-shop is an operation that deals with price quotations for property with the intent of entering into or aiding others to enter into illegal contracts or transactions, often related to gambling or illegal trading.
Transmitting or communicating bucket-shop price quotes is a third-degree misdemeanor, and if a corporation is involved, its charter can be forfeited.
Yes, knowingly permitting a bucket-shop to operate on your premises can result in a third-degree misdemeanor and a fine that becomes a lien on the property.
No, all contracts related to bucket-shops are declared gambling and criminal acts, and they are considered null and void under Pennsylvania law.