Meaning of “blue-sky laws” in the English Dictionary

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"blue-sky laws" in Business English

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blue-sky lawsnoun [ plural ]

uk us LAW, STOCK MARKET

laws that exist in US states to prevent people from trading shares on the stock market in a dishonest way:

Blue sky laws, so named because they focussed on the sale of issues that had the value of blue sky, related only to state-issued securities.

(Definition of “blue-sky laws” from the Cambridge Business English Dictionary © Cambridge University Press)