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Blue sky laws are the rules and regulations that have been enacted by each state that regulates the offering and sale of securities. These state laws are in addition to the federal securities laws.
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Answered over 3 years ago.
Financial Markets and Services Attorney in Snellville, GA.
Mr. Hong's answer is correct. I'll add this: Typically, unless there is an exemption from registration, each security being offered for sale in a state must be registered with the state Securities Commissioner. The registration of the security is sometimes referred as the security being "blue skyed," meaning that the security has been registered and it is OK to sell it in that state. You can learn more about the state regulations and find contact info. for your state at the North American Securities Administration Association (www.nasaa.org).
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