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LSDefine

Simple English definitions for legal terms

blue sky law

Read a random definition: beach bum trust provision

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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Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
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