nonstock corporation
nonstock corporation 非股份法人；非股份公司 一种不向其成员发行股票的法人，例如互助保险公司、宗教与慈善机构等。其成员的所有权不是根据其所持股份来识别，而是根据会员章程或协议来确定。
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Search Results for: nonstock corporation
nonstock corporation
A corporation that does not issue shares of stock as evidence of ownership but instead is owned by its members in accordance with a charter or agreement. • Examples are mutual insurance companies, charitable organizations, and private clubs. [Cases: Corporations 3. C.J.S. Corporations §§ 5–7, 62.]
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articles of association
articles of association. 1. ARTICLES OF INCORPORATION. 2. A governing document — similar to articles of incorporation — that legally creates a nonstock or nonprofit organization. — Also termed articles of organization. — Often shortened (informally) to articles. See governing document under DOCUMENT(1). [Cases: Corporations 18. C.J.S. Corporations §§ 26, 33–35, 41, 559.]
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nonshareholder constituency
nonshareholder constituency. A group of nonstockholders, such as employees or the public, who have an interest in the corporation’s business — an interest that the corporation may legally consider, in addition to shareholders’ interests, in making major policy decisions. — Also termed alternative constituency. [Cases: Corporations 310(1). C.J.S. Corporations §§ 475, 477–484, 487–489.]
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