Definition
The Uniform Securities Act, or USA, is Model State Securities Legislation — meaning, it’s meant to act as a starting point for a law that states have the power to more concretely implement
- In other words, the USA is a template or guide that each state uses in drafting its securities legislation
The term state here means any 50 states, any territory or possession of the United States (American Samoa, Guam, Virgin Islands), D.C. and Puerto Rico