conservatorship

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A status, defined by the jurisdiction, in which a conservatee—usually an elderly and/or mentally incompetent person—is under the control of another—conservator—vis-à-vis fiscal or contractual affairs, but not regarding the physical person or body—as with consent to medical or surgical treatment
Segen's Medical Dictionary. © 2012 Farlex, Inc. All rights reserved.

conservatorship

(kŏn-sĕr′vă-tor-shĭp″)
The preservation and protection of a dependent person's self and property by another individual. The term does not refer to imprisonment or confinement in a psychiatric facility. This is called guardianship in some states.
Medical Dictionary, © 2009 Farlex and Partners
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References in periodicals archive ?
Waugh will represent clients in disputed conservatorship, guardianship and related probate proceedings, serving as court-appointed counsel in a capacity commonly known as the "PVP Attorney."
DeMarco stood firm on his duty to protect the taxpayers while Fannie Mae and Freddie Mac were in conservatorship and were losing substantial sums of money.
An attorney who claims to represent Spears, meanwhile, has filed papers to move her conservatorship case from the Los Angeles County Superior Court to federal court, but legal experts question whether his legal strategy is viable and whether he can represent the troubled pop star at all.
The conservatorship was approved by a different court from the one handling a custody dispute over the singer's children with Kevin Federline.
RTC resources were needed to absorb losses when a thrift was sold and to provide working capital to conservatorships and receiverships.
The RTC also assumed responsibility for any liquidity support that thrift institutions in conservatorship might require, so the Joint Lending Program was discontinued.
banks numbered 8,030 in 1897 and 29,417 by 1921, but more than 12,000 of them failed between 1921 and year-end 1933, focusing renewed attention on the legal and institutional structures of bank receiverships.(7) In 1933, as an alternative to receiverships, conservatorships for national banks were created under Title II of the Emergency Banking Act of March 9, 1933.(8) The condition then provided for appointment of a conservator "whenever the Comptroller shall deem it necessary in order to conserve the assets of any bank for the benefit of the depositors and other creditors thereof..." (former 12 U.S.C.
FHFA also reported that the GSEs have reduced the number of senior executives at each of the firms by roughly one fourth, going from 91 prior to conservatorship to 70 currently.
That CU has been under conservatorship for nearly a year and for a time was being partnered with the $505 million Dade County FCU of Miami, which later dropped its merger deal.
Lawrenceville, GA, March 08, 2012 --(PR.com)-- The law firm of Andrew, Merritt, Reilly & Smith in Lawrenceville, Ga., has launched www.ProbateGeorgia.com, a comprehensive website that provides individuals and family members quick and easy access to basic information, definitions and forms relating to probate matters such as estates and guardianships, including estate planning, probating wills, administrations, guardianships of persons, conservatorships and fiduciary services within Georgia.
FHFA said the proposed rule parallels many provision in Federal Deposit Insurance Corporation (FDIC) rules for conservatorships and receiverships, including status and priority of claims, relationships among various classes of creditors and equity holders, and priorities for contract parties and other claimants under conservatorships or receiverships.
Richard Shelby (R-Ala.) said, "Our amendment to the financial regulatory bill would provide: transparency and taxpayer protections, an end to their conservatorships, a stronger regulatory structure and a responsible path for untangling the taxpayer."