Blue sky law restrictions, although often providing a significant impediment to the development of new enterprises, have received little attention in regard to their actual economic effect. The author surveys the various regulatory approaches taken by restrictive and non-restrictive states, exploring the relative economic inhibitions of each. Particular attention is given to the limitations upon financing new businesses, retaining promoter control and insuring a sufficient reward for entrepreneurship.
James S. Mofsky,
Blue Sky Restrictions on New Business Promotions,
1969 Duke Law Journal
Available at: http://scholarship.law.duke.edu/dlj/vol18/iss2/3