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close corporation |
Also found in: Dictionary/thesaurus, Financial | 0.02 sec. |
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close corporation n. a corporation which is permitted by state law to operate more informally than most corporations (allowing decisions without meetings of the Board of Directors) and has only a limited number of shareholders. Usually a close corporation's shareholders are involved in the actual operation of the business and often are family members. (See: corporation) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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