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LSDefine

Simple English definitions for legal terms

blue sky law

Read a random definition: inspection of documents

A quick definition of blue sky law:

A blue sky law is a state regulation that requires companies selling securities to register with the state and disclose information about the investment to potential buyers. The term "blue sky" comes from the idea of selling something that doesn't exist, like the sky. These laws were created in response to people losing money in fraudulent investment schemes. While federal securities laws also exist, blue sky laws provide additional protection for investors. Each state has its own blue sky laws, which can vary in their requirements and enforcement. The goal of these laws is to prevent fraud and ensure that investors have accurate information before making investment decisions.

A more thorough explanation:

Blue sky laws are regulations created by individual states to oversee the sale of securities. These laws require companies to register with the state and provide information about their securities to prevent fraud and protect investors. The term "blue sky" comes from the idea of speculative investment schemes having no more basis than the blue sky above.

  • A company in California wants to sell securities to investors. They must meet a merit test to show that their securities are fair for investors under Title 4, Division 1 of the California Corporations Code.
  • A company in New York wants to sell securities, but they do not need to register their securities unless they are sold in real estate or intrastate offerings under N.Y. GBL Article 23-A.

These examples illustrate how blue sky laws vary from state to state. Some states have strict requirements for companies to meet before they can sell securities, while others have more relaxed rules. However, all blue sky laws aim to prevent fraudulent sales and ensure that investors have accurate information about the securities they are buying.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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