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.]

---

词条贡献者

译员张宏，知名法学院法律翻译专业，专注翻译各种与调查与白领犯罪辩护有关的法律文件。