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blue-sky law

   Also found in: Legal, Wikipedia 0.01 sec.
blue-sky law
n.
A law designed to protect the public from buying fraudulent securities.
blue-sky law
n
(Economics, Accounting & Finance / Stock Exchange) US a state law regulating the trading of securities: intended to protect investors from fraud


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The registration statement is intended, if it is declared effective, to ensure that the issuance of shares under these plans to Ligand's employees, consultants, directors or other eligible individuals are made in compliance with federal law and may be freely resold, upon compliance with any state blue-sky laws or company-imposed trading restrictions that apply.
Ligand Pharmaceuticals Files S-1 for Existing Employee & Director ... by Business Wire
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