One of the mysteries of the English language finally explained.
A law regulating the sale of securities, intended to protect the public from fraud.
- ‘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.’
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