State Blue Sky Laws

State Blue Sky Laws in the United States

Background

In Hall vs. Geiger-Jones Co., 242 U.S. 539 (1917), in relation to 3 cases dealing with the constitutionality of state securities regulations. Justice McKenna wrote that the “name that is given to the law indicates the evil at which it is aimed, that is, to use the language of a cited case, “speculative schemes which have no more basis than so many feet of ‘blue sky’”; or, as stated by counsel in another case, “to stop the sale of stock in fly-by-night concerns, visionary oil wells, distant gold mines and other like fraudulent exploitations.” Even if the descriptions be regarded as rhetorical, the existence of evil is indicated, and a belief of its detriment; and we shall not pause to do more than state that the prevention of deception is within the competency of government and that the appreciation of the consequences of it is not open for our review.”

State Blue Sky Legislation

In addition to the rules and regulations of the Securities and Exchange Commission, directly, and through its oversight of the NASD and the various Exchanges, each individual state has its own securities laws, securities rules and regulators.

State Securities Administrators / Regulators / Securities Departments

The following is a list of the various state administrators, with links to their securities home pages, and to the text of the State’s Blue Sky laws, where available:

  • ALABAMA
    Alabama Securities Commission
    401 Adams Ave Suite 280
    Montgomery, Alabama 36104-4353
    Phone/Fax: (334) 242-2984 // (334) 242-0240
    More Information:Webpage of this State´s Administrator
  • ALASKA
    Department of Commerce
    Division of Banking, Securities & Corporations
    150 Third Street, Suite 217
    Juneau, AK 99811-0807
    Phone/Fax: (907) 465-2521 // (907) 465-1230
    More Information:Webpage of this State´s Administrator
  • ARIZONA
    Corporation Commission
    Securities Division
    1300 West Washington, Third Floor
    Phoenix, Arizona 85007
    Phone/Fax: (602) 542-4242 // (602) 594-7470
    More Information:Webpage of this State´s Administrator
  • ARKANSAS
    Arkansas Securities Department
    201 East Markham Suite 300
    Little Rock, AR 72201
    Phone/Fax: (501) 324-9260 // (501) 324-9268
    More Information:Webpage of this State´s Administrator
  • CALIFORNIA
    Department of Business Oversight
    Securities Regulation Division
    1515 K Street, Suite 200
    Sacramento, CA 95814
    Phone/Fax: (916) 327-7585 // (916) 322-1559
    More Information: Webpage of this State´s Administrator
    More Information:Webpage of this State´s Administrator
  • COLORADO
    Division of Securities
    1560 Broadway, Suite 900
    Denver, CO 80202
    Phone/Fax: (303) 894-2320 // (303) 861-2126
    More Information:Webpage of this State´s Administrator
  • CONNECTICUT
    Department of Banking
    Division of Securities
    260 Constitution Plaza
    Hartford CT 06103
    Phone/Fax: 860-240-8230 // (860) 240-8178
    More Information: Webpage of this State´s Administrator
    More Information:Webpage of this State´s Administrator
  • DELAWARE
    Department of Justice
    Division of Securities
    820 N. French Street, 5th floor
    Wilmington DE 19801
    Phone/Fax: (302) 577-8424 // (302) 577-6987
    More Information:Webpage of this State´s Administrator
  • DISTRICT OF COLUMBIA
    Securities Commission
    810 First Street NE, Suite 701
    Washington, DC 20001
    Phone/Fax: (202) 727-8000 // (202) 535-1196
    More Information:Webpage of this State´s Administrator
  • FLORIDA
    Department of Banking
    Division of Securities
    101 East Gaines Street, Suite 118
    Tallahassee FL 32399-0379
    Phone/Fax: (850) 410-9889 // (850) 410-9663
    More Information:Webpage of this State´s Administrator
  • GEORGIA
    Office of the Secretary of State
    Securities Division
    237 Coliseum Drive
    Macon, GA 31217-3858
    Phone/Fax: (478) 207-2440// (478)-314-5805
    More Information:Webpage of this State´s Administrator
  • HAWAII
    Department of Commerce and Consumer Affairs
    King Kalakaua Building
    335 Merchant Street
    Honolulu Hawaii 96813
    Phone/Fax: 808-586-2744 // 808-586-3977
    More Information:Webpage of this State´s Administrator
  • IDAHO
    Department of Finance
    Securities Bureau
    800 Park Boulevard Suite 200
    Boise, Idaho 83712
    Phone/Fax: (208) 332-8004 // (208) 332-8099
    More Information:Webpage of this State´s Administrator
  • ILLINOIS
    Office of the Secretary of State
    Securities Department
    300 West Jefferson Street, Suite 300A
    Springfield, IL 62702
    Phone/Fax: (217) 782-2256 // (217) 782-8876
    More Information:Webpage of this State´s Administrator
  • INDIANA
    Office of the Secretary of State
    Securities Division
    302 West Washington, E-111
    Indianapolis, IN 46204
    Phone/Fax: (317) 232-6681 // 317-233-3675
    More Information:Webpage of this State´s Administrator
  • IOWA
    Insurance Division
    Securities Bureau
    340 E. Maple Street
    Des Moines IA 50319
    Phone/Fax: 515-281-5705 // (515) 281-3059
    More Information:Webpage of this State´s Administrator
  • KANSAS
    Securities Commission
    109 SW 9th St., Ste. 600
    Topeka KS 66612-1215
    Phone/Fax: (785) 296-3307 // (785) 296-6872
    More Information:Webpage of this State´s Administrator
  • KENTUCKY
    Department of Financial Institutions
    Division of Securities
    1025 Capital Center Drive, Suite 200
    Frankfort, KY 40601
    Phone/Fax: 502-573-3390 // 502-573-8787
    More Information:Webpage of this State´s Administrator
  • LOUISIANA
    Securities Commission
    Office of Financial Institutions
    8660 United Plaza Blvd. Suite 200
    Baton Rouge, LA 70809
    Phone/Fax: (225) 925-4660 // (225) 925-4524
    More Information:Webpage of this State´s Administrator
  • MAINE
    Securities Division
    121 State House Station
    Augusta, Maine 04333
    Phone/Fax: (207) 624-8551 // (207) 624-8590
    More Information:Webpage of this State´s Administrator
  • MARYLAND
    Office of the Attorney General
    Division of Securities
    200 Saint Paul Place
    Baltimore, MD 21202-2020
    Phone/Fax: (410) 576-6360 // (410) 576-6532
    More Information:Webpage of this State´s Administrator
  • MASSACHUSETTS
    Securities Division
    One Ashburton Place, 17th Floor
    Boston, MA 02108
    Phone/Fax: (617) 727-3548 // (617) 248-0177
    More Information:Webpage of this State´s Administrator
  • MICHIGAN
    Division of Securities
    Office of Financial & Insurance Services
    611 West Ottawa, Third Floor
    Lansing, MI 48933-1070
    Phone/Fax: (877)999-6442 // (517)241-3157
    More Information:Webpage of this State´s Administrator
  • MINNESOTA
    Department of Commerce
    85 7th Place East, Suite 500
    Saint Paul, MN 55101
    Phone/Fax: (651) 539-1500 // (651) 539-1547
    More Information:Webpage of this State´s Administrator
  • MISSISSIPPI
    Office of the Secretary of State
    Business Regulation & Enforcement Division
    125 S. Congress Street
    Jackson, MS 39201
    Phone/Fax: 601-359-9055 // 601-576-2546
    More Information:Webpage of this State´s Administrator
  • MISSOURI
    Securities Division
    Missouri State Information Center
    600 West Main Street
    Jefferson City, MO 65101
    Phone/Fax: (573) 751-4136 // (573) 526-3124
    More Information:Webpage of this State´s Administrator
  • MONTANA
    Office of the State Auditor
    Securities Department
    840 Helena Avenue
    Helena, MT 59601
    Phone/Fax: (406)444-2040 // (406) 444-5558
    More Information:Webpage of this State´s Administrator
  • NEBRASKA
    Nebraska Securities Bureau
    Department of Banking & Finance
    1526 K Street, Suite 300
    Lincoln, NE 68508-2732
    Phone/Fax: (402) 471-3445 //
    More Information:Webpage of this State´s Administrator
  • NEVADA
    Nevada Secretary of State
    Securities Divison
    101 N Carson Street Suite 3
    Carson City, NV 89701
    Phone/Fax: (775)-684-5708 // (775)-684-5725
    More Information:Webpage of this State´s Administrator
  • NEW HAMPSHIRE
    Bureau of Securities Regulation
    107 North Main St. #204
    Concord, NH 03301-4989
    Phone/Fax: (603) 271-1463 // (603) 271-7933
    More Information:Webpage of this State´s Administrator
  • NEW JERSEY
    Department of Law and Public Safety
    Bureau of Securities
    153 Halsey St. 6th Floor
    Newark, NJ 07102
    Phone/Fax: (973) 504-3600 // (973) 504-3601
    More Information:Webpage of this State´s Administrator
  • NEW MEXICO
    Regulation and Licensing Department
    Securities Divison
    2550 Cerrillos Road, 3rd Floor
    Santa Fe, NM 87505
    Phone/Fax: (505) 476-4580 // (505) 984-0617
    More Information:Webpage of this State´s Administrator
  • NEW YORK
    Office of the Attorney General
    Investor Protection & Securities Bureau
    120 Broadway 23rd Floor
    New York, NY 10271
    Phone/Fax: (212) 416-8222 // (212) 416-8816
    More Information:Webpage of this State´s Administrator
  • North Carolina
    Department of the Secretary of State
    Securities Division
    4701 Atlantic Avenue , Suite 116
    Raleigh, NC 27626-0622
    Phone/Fax: (919) 733-3924 // (919) 807-2183
    More Information:Webpage of this State´s Administrator
  • NORTH DAKOTA
    Securities Commission
    600 East Boulevard
    State Capitol, 5th Floor
    Bismarck, ND 58505-0510
    Phone/Fax: (701) 328-2910 // (701) 328-2946
    More Information:Webpage of this State´s Administrator
  • OHIO
    Division of Securities
    77 South High Street 22nd Floor
    Columbus, OH 43215
    Phone/Fax: (614) 644-7381 // (614) 466-3316
    More Information:Webpage of this State´s Administrator
  • OKLAHOMA
    Department of Securities
    1st National Center, Suite 860
    120 N. Robinson
    Oklahoma City, OK 73102
    Phone/Fax: (405) 280-7700 // (405) 280-7742
    More Information:Webpage of this State´s Administrator
  • OREGON
    Department of Consumer & Business Services
    Div. of Finance & Corp. Securities
    350 Winter Street, NE, Rm. 410
    Salem, OR 97301-3881
    Phone/Fax: (503) 378-4387 // (503) 947-7862
    More Information:Webpage of this State´s Administrator
  • PENNSYLVANIA
    Securities Commission
    Eastgate Office Building
    1010 North 7th Street, 2nd Floor
    Harrisburg, PA 17102-1410
    Phone/Fax: (717) 787-8061 // (717) 783-5122
    More Information:Webpage of this State´s Administrator
  • RHODE ISLAND
    Department of Business Regulation
    1511 Pontiac Avenue
    Carnston, RI 02920
    Phone/Fax: (401) 462-9500 // (401) 462-9532
    More Information:Webpage of this State´s Administrator
  • SOUTH CAROLINA
    Office of the Attorney General
    Securities Division
    1000 Assembly Street, Rm. 519
    Columbia, SC 29201
    Phone/Fax: (803) 734-4731 // (803) 734-0032
    More Information:Webpage of this State´s Administrator
  • SOUTH DAKOTA
    Dept. of Revenue and Regulation
    Division of Securities
    445 East Capitol Avenue
    Pierre, SD 57501-3185
    Phone/Fax: (605) 773-4823 // (605) 773-5953
    More Information: Webpage of this State´s Administrator
    More Information:Webpage of this State´s Administrator
  • TENNESSEE
    Department of Commerce & Insurance
    Securities Division
    500 James Robertson Parkway, Suite 660
    Nashville, TN 37243-0575
    Phone/Fax: (615) 741-2947 // (615) 532-8375
    More Information:Webpage of this State´s Administrator
  • TEXAS
    State Securities Board
    208 East 10th Street, 5th Floor
    Austin, TX 78701
    Phone/Fax: (512) 305-8300 // (512) 305-8310
    More Information:Webpage of this State´s Administrator
  • UTAH
    Department of Commerce
    Division of Securities
    160 East 300 South, 2nd Floor
    Salt Lake City, UT 84111
    Phone/Fax: (801) 530-6600 // (801) 530-6980
    More Information:Webpage of this State´s Administrator
  • VERMONT
    Department of Banking, Insurance, Securities & Health Care
    89 Main Street
    Montpelier, VT 05620-3101
    Phone/Fax: (802) 828-3301 // (802) 828-2896
    More Information:Webpage of this State´s Administrator
  • VIRGINIA
    State Corporation Commission
    Division of Securities & Retail Franchising
    1300 East Main Street
    Richmond, VA 23219
    Phone/Fax: (804) 371-9187 //
    More Information:Webpage of this State´s Administrator
  • WASHINGTON
    Department of Financial Institutions
    Securities Division
    150 Israel Road, SW
    Tumwater, WA 98501
    Phone/Fax: (360) 902-8760 // (360) 902-0524
    More Information:Webpage of this State´s Administrator
  • WEST VIRGINIA
    Office of the State Auditor
    Securities Division
    1900 Kanawha Boulevard East
    Building 1, Room W-100
    Charleston, WV 25305-0230
    Phone/Fax: (304) 558-2251 // (304) 558-4211
    More Information:Webpage of this State´s Administrator
  • WISCONSIN
    Department of Financial Institutions
    Division of Securities
    201 W. Washington Avenue, Suite 500
    Madison, WI 53703
    Phone/Fax: (608) 266-1064 // (608) 264-7979
    More Information:Webpage of this State´s Administrator
  • WYOMING
    Securities Division
    Wyoming Secretary of State’s Office
    200 West 24th Street
    Cheyenne, WY 82002-0020
    Phone/Fax: (307) 777-7370 // (307) 777-7640
    More Information:Webpage of this State´s Administrator

State Blue Sky Laws: Open and Free Legal Research of US Law

Federal Primary Materials

The U.S. federal government system consists of executive, legislative, and judicial branches, each of which creates information that can be the subject of legal research about State Blue Sky Laws. This part provides references, in relation to State Blue Sky Laws, to the legislative process, the federal judiciary, and the primary sources of federal law (cases, statutes, and regulations).

Federal primary materials about State Blue Sky Laws by content types:

Laws and Regulations

US Constitution
Federal Statutory Codes and Legislation

Federal Case Law and Court Materials

U.S. Courts of Appeals
United States courts of appeals, inclouding bankruptcy courts and bankcruptcy appellate panels:

Federal Administrative Materials and Resources

Presidential Materials

Materials that emanate from the President’s lawmaking function include executive orders for officers in departments and agencies and proclamations for announcing ceremonial or commemorative policies. Presidential materials available include:

Executive Materials

Federal Legislative History Materials

Legislative history traces the legislative process of a particular bill (about State Blue Sky Laws and other subjects) for the main purpose of determining the legislators’ intent behind the enactment of a law to explain or clarify ambiguities in the language or the perceived meaning of that law (about State Blue Sky Laws or other topics), or locating the current status of a bill and monitoring its progress.

State Administrative Materials and Resources

State regulations are rules and procedures promulgated by state agencies (which may apply to State Blue Sky Laws and other topics); they are a binding source of law. In addition to promulgating regulations, state administrative boards and agencies often have judicial or quasi-judicial authority and may issue administrative decisions affecting State Blue Sky Laws. Finding these decisions can be challenging. In many cases, researchers about State Blue Sky Laws should check state agency web sites for their regulations, decisions, forms, and other information of interest.

State rules and regulations are found in codes of regulations and administrative codes (official compilation of all rules and regulations, organized by subject matter). Search here:

State opinions of the Attorney General (official written advisory opinions on issues of state law related to State Blue Sky Laws when formerly requested by a designated government officer):

Tools and Forms

Law in Other Regions

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