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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词条贡献者

资深译员Grace，毕业于一所培养最顶级翻译人才的语言学院，擅长翻译各类与商业诉讼及争议相关的法律文件。