Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

blue sky laws

Read a random definition: notice-of-alibi rule

A quick definition of blue sky laws:

Blue sky laws are rules that protect people from buying stock in fake companies that don't have anything valuable, like land or gold. These laws say that companies that want to sell stock to the public have to get permission from the government and give information about their money and leaders. The name "blue sky" comes from the idea that some companies are just selling nothing but air.

A more thorough explanation:

Definition: Blue sky laws are laws that protect people from buying stocks in companies that are fraudulent and lack substance. These companies may sell things like swamp land, non-existent gold strikes, or dry oil wells. Blue sky laws require that companies get approval from the state corporations commissioner and/or the Securities and Exchange Commission before selling shares to the public. The company must provide details on financing and management to get this approval. The term "blue sky" comes from the idea of preventing companies that have nothing behind them but "blue sky."

One example of a company that might be stopped by blue sky laws is a company that claims to have found a gold mine, but has no evidence to back up their claim. Another example is a company that sells land that is actually a swamp, but claims it is valuable property. These companies might try to sell shares to the public, but blue sky laws would prevent them from doing so without proper approval.

Blue sky laws are important because they protect people from investing in companies that are not legitimate. Without these laws, people could lose their money by investing in companies that have no real value or assets. By requiring companies to provide details on financing and management, blue sky laws help ensure that companies are legitimate and have something to offer investors.

blue laws | booby trap

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
LSD+ is ad-free, with DMs, discounts, case briefs & more.