### Question
How does SECURITIES AND TRUST INDENTURES define blank check company?


### Answer
Under *15 U.S.C. § 77g*, **blank check company** is defined as:

> any development stage company that is issuing a penny stock (within the meaning of section 78c(a)(51) of this title) and that—


(A) has no specific business plan or purpose

#### Citation:
  - *15 U.S.C. § 77g*
  - Heading: **CHAPTER 2A-SECURITIES AND TRUST INDENTURES > SUBCHAPTER I-DOMESTIC SECURITIES**

