The law of the collegium of ivory and citrus-wood merchants is best known for its suspected prohibition against outsiders or non-practitioners. The present study argues that the regulation in question actually prohibits curatores from enrolling outsiders—the text curiously labels such an offense ‘fraud’. Rather than banning outsiders altogether, the law provides that only quinquennales shall have the authority to admit non-practitioners. It is still a rather unusual law, and since it conveys the impression that this collegium is wildly popular even among non-practitioners, and headed by quinquennales who excel in the virtue of orderliness, its audience and function are both scrutinized here.