Search results
Results from the WOW.Com Content Network
A statutory corporation is defined in the federal Department of Finance's glossary as a "statutory body that is a body corporate, including an entity created under section 87 of the PGPA Act" (i.e. a statutory authority may also be a statutory corporation). [1] An earlier definition describes a statutory corporation as "a statutory authority ...
A statutory corporation is defined in the government glossary as a "statutory body that is a body corporate, including an entity created under section 87 of the PGPA Act" (i.e. a statutory authority may be a statutory corporation). [3] An earlier definition describes a statutory corporation as "a statutory authority that is a body corporate ...
Sometimes this kind of legal entity is called a perusahaan dagang or abbreviated as PD, which sometimes makes confusion with the former name for municipally-owned statutory corporations, Perusahaan Daerah, also abbreviated as PD (today they are called Perusahaan Umum Daerah and abbreviated as Perumda).
The importance of a corporate body, regardless of its exact function, when such a body is a creature of statute is that its active functions can only be within the scope detailed by the statute which created that corporation. Thereby, the creature of statute is the tangible manifestation of the functions or work described by a given statute.
In Canada, state-owned corporations are referred to as Crown corporations, indicating that an organization is established by law, owned by the sovereign (either in right of Canada or a province), and overseen by parliament and cabinet. Examples of federal Crown corporations include: the Canadian Broadcasting Corporation; Canada Post; Bank of Canada
Corporations can be "dissolved" either by statutory operation, the order of the court, or voluntary action on the part of shareholders. Insolvency may result in a form of corporate failure, when creditors force the liquidation and dissolution of the corporation under court order, [ 39 ] but it most often results in a restructuring of corporate ...
New York Business Corporation Law section 1104-a, the holders of 20 per cent of voting shares of a non-public corporation may request that the corporation be wound up on grounds of oppression. NY Bus Corp Law §1118 and Alaska Plastics, Inc. v. Coppock , 621 P.2d 270 (1980) the minority can sue to be bought out at a fair value, determined by ...
In the United States, most corporations are incorporated, or organized, under the laws of a particular state. The laws of the state of incorporation normally governs a corporation's internal operations, even if the corporation's operations take place outside that state. Corporate law differs from state to state.