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A "Close Corporation" is generally a smaller corporation that elects close corporation status and is entitled to operate without strict formalities. It has more of a relaxed environment.
A corporation is a legal entity that is distinct from its owners. It has the right to enter into contracts, loan and borrow money, and sue.
a fartingship
A close corporation refers to a corporation that has been exempted from some of the formal rules that govern corporations. They are usually exempted from these rules because of the small number of shareholders that they have.
A corporation will out live its founder and any shareholders as long as it's financially sound. A sole proprietorship dies with the owner and an LLC can not outlive its members.
a minimum of one. a maximum of ten
Minimum of one. maximum of ten.
A close corporation has unlimited continuity. This means that it will continue to exist regardless of changes in the composition of the members.
yes
Home Owners' Loan Corporation was created in 1933.
characteristics of close corporation
A "Close Corporation" is generally a smaller corporation that elects close corporation status and is entitled to operate without strict formalities. It has more of a relaxed environment.
general corporation Close corporation Limited Liability Corporation
home owners loan corporation
HOLC
HOME OWNER'S LOAN CORPORATION
Home Owners' Loan Corporation