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 ¡ì¡ì 5¨C7, 62.]


What is the legal translation of nonstock corporation in Chinese?
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