What is the Uniform Securities Act?

The United States Uniform Securities Act is a securities law promulgated by the American Bar Association for states in 1956. Its purpose is to promote a uniform state securities law. In the United States, in addition to federal securities laws, each state has its own securities laws. Issuing bonds not only requires compliance with federal securities laws, but also with the securities laws of the states where the bonds are sold, which is inconvenient for issuers. To this end, this law was enacted. ^[1]