A law regulating the sale of securities, intended to protect the public from fraud.
Example sentencesExamples
Probably a lot of bucket shop operators had the same reaction to states which passed blue sky laws requiring securities disclosure.
New York's legislature was one of the last to pass a blue-sky law, letting through a deliberately enfeebled version.
Since bond indentures do not incorporate into themselves provisions of fraudulent, conveyance law, state corporation law, blue-sky law or the law of fraud, violations of these laws do not result in an Event of Default.
In the U.S. Kansas was the first state to pass a blue sky law in 1911.
By 1933, all but one state had passed blue sky laws; today, all fifty states, the District of Columbia, Guam, and Puerto Rico have blue sky laws in force.
Definition of blue-sky law in US English:
blue-sky law
noun
A law regulating the sale of securities, intended to protect the public from fraud.
Example sentencesExamples
In the U.S. Kansas was the first state to pass a blue sky law in 1911.
New York's legislature was one of the last to pass a blue-sky law, letting through a deliberately enfeebled version.
By 1933, all but one state had passed blue sky laws; today, all fifty states, the District of Columbia, Guam, and Puerto Rico have blue sky laws in force.
Since bond indentures do not incorporate into themselves provisions of fraudulent, conveyance law, state corporation law, blue-sky law or the law of fraud, violations of these laws do not result in an Event of Default.
Probably a lot of bucket shop operators had the same reaction to states which passed blue sky laws requiring securities disclosure.