The term Blue Sky Law refers to the laws and regulations of the individual states regarding the registration of securities, brokerage firms and investment advisers. While the most well known securities laws are the federal laws, each state has its own rules and regulations.
The blue sky laws of each state are substantially similar but need to be reviewed and complied with before selling securities in that state. The laws require the registration of securities offerings and the registration of brokers and brokerage firms. Each state has a regulatory agency that administers the law, typically known as the state Securities Commissioner. A list of state securities commissioners, and their addresses, is available in our Guide to State Securities Regulators.
Our full article on this topic is our popular Introduction to State Securities (Blue Sky) Laws