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corporation
(redirected from Shareholder owned)

   Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
corporation
a business entity such as a company incorporated under legislation, usually a Companies Act, which can make the shareholders legally responsible only for the profits and debts of the company. That is the shareholders are not personally responsible. It has been held for generations that members of professions could not practice as corporations because they would lose their personal responsibility to their clients. It is becoming more common for this rule to be discarded.


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members serve 97 percent of the ultimate customers in the shareholder owned segment of the industry, and 71 percent of all electric utility ultimate customers in the nation.
 
 
 
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