blue sky survey
USA
blue sky memorandum, Also known as the blue sky survey.
A memorandum prepared by underwriters' counsel describes the applicable rules and regulations of a specific offering of securities under the securities laws (blue sky laws) of each of the states in which the offering is to be made. The memorandum may cover a few states or include all 50 states, Puerto Rico, and the District of Columbia. This memorandum is prepared first in preliminary form, which may note that certain steps need to be taken in various jurisdictions to qualify the issue for sale within these jurisdictions. The memorandum is then issued in final form and should include a summary of the actions taken in each of the jurisdictions.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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