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LSDefine

Simple English definitions for legal terms

blue sky laws

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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

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
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
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