New York Court of Appeals
All Seasons Resorts, Inc. v. Robert Abrams, as Attorney-General of the State of New York
July 3, 198668 N.Y.2d 81
Summary
The New York Court of Appeals held that All Seasons Resorts memberships are not securities under any category of General Business Law § 352‑e, including participation interests, cooperative interests, or the general definition of securities, and therefore reversed the Appellate Division and reinstated the Special Term judgment granting an injunction against the Attorney‑General.