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JET SET TRAVEL CLUB v. CORPORATION COMMISSIONER

535 P.2d 109 (1975)

JET SET TRAVEL CLUB, Dba Jet Set Travel Club Corporation, et al., Petitioners, v. CORPORATION COMMISSIONER OF THE STATE OF OREGON, et al., Respondents.

Court of Appeals of Oregon.

Decided May 12, 1975.

Attorney(s) appearing for the Case

Michael H. Schmeer, Portland, argued the cause for petitioners. With him on the brief were Black, Kendall, Tremaine, Boothe & Higgins, Portland.

Al J. Laue, Asst. Atty. Gen., Salem, argued the cause for respondents. With him on the brief were Lee Johnson, Atty. Gen., and W. Michael Gillette, Sol. Gen., Salem.

Before SCHWAB, C.J., and LANGTRY and THORNTON, JJ.

THORNTON, Judge.

Petitioners appeal from an order of the Corporation Commissioner directing certain persons to cease and desist from offering or selling memberships in Jet Set Travel Club (Jet Set) until such memberships are registered in Oregon pursuant to what is commonly referred to as the Oregon Blue Sky Law (Oregon Securities Law, ORS ch. 59).

Petitioners contend that the Commissioner erred in concluding that (1) memberships in Jet Set constitute securities...

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