There are, with close corporations, no strict rules relating to the maintenance of capital, and they also enjoy flexibility in the arrangement of their internal relationships.
22.
In the present case, in which a member of a close corporation was deceased, the executor of the deceased's estate qualified for membership of the corporation.
23.
However, the majority of corporations are said to be closely held, privately held, or "'close corporations "'so there is no ready market for the trading of shares.
24.
Their sorority, dating to Sept . 26, 1981, when Serena arrived on earth to be initiated, hooking up with Venus, is a restricted sisterhood, a closed corporation.
25.
I do not think that I have heard of " closed corporations ", do not know what this term means, and doubt that most Americans will understand it.
26.
The fiduciary duties and duties of care and skill are codified, and the accounting and disclosure provisions are less extensive for a close corporation than for, say, a public company.
27.
The close corporations, though their right to choose a member of parliament might be doubtful, had the sole right to admit new burgesses, and to determine parliamentary elections they enfranchised non-residents.
28.
The company repositioned its brand and put aside its identity as an oil company to become an energy company, moving from an old-style, closed corporation to an open, collaborative, new-economic venture.
29.
To get around this legislation, a testator may leave the land to a trust or close corporation, and appoint the beneficiaries as beneficiaries of the trust or close corporation in equal shares.
30.
To get around this legislation, a testator may leave the land to a trust or close corporation, and appoint the beneficiaries as beneficiaries of the trust or close corporation in equal shares.
