- HOLDING COMPANY
- see holding company
- JOINT STOCK COMPANY
-
a company/association (which is usually unincorporated) that has the capital of its members pooled in a common fund. The CAPITAL STOCK is divided into shares, and it is distributed in a way that represents ownership-interest [in the company]. As a form of partnership, it is distinguished from a partnership in that:
(a) the membership of a joint stock company is changeable;
(b) the shares are transferable;
(c) the members can be many (while not necessarily known to each other); and
(d) the members cannot act (or speak) for the company.
- Froogled By:
- Elias Makere, FSA, MAAA
- Last Froogled:
COMPANY
Feel free to use it throughout your financial/insurance life.
Sincerely,
www.FroogleMe.com
