State v. Investors Security Corporation

Peterson, Justice.

Defendants, Investors Security Corporation and associated personnel, appeal from an order entered by the district court, upon application of the State of Minnesota, which among other proscriptions permanently enjoins them from selling certain unregistered securities in this state. The sole issue we need decide is whether those securities are, as the district court found, “investment contracts” within the context of Minn. St. 1971, § 80.01, subd. 4, and thus subject to the registration provisions of our securities statutes. We affirm.

In January 1971, Midwest Arrow Wash, Inc.,…