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There had been questions regarding the federal government's power to manage corporations which have received charters. Amid dissatisfaction with the system, the subcommittee of the House Judiciary Committee decided not to consider applications for further charters in 1992. [ 8 ]
The United States federal government chartered and owned corporations operate to provide public services. Unlike government agencies such as the Environmental Protection Agency, the Bureau of Indian Affairs, or independent commissions, such as the Federal Communications Commission, the Nuclear Regulatory Commission, and others, they have a separate legal personality from the federal government.
In Australia, statutory corporations are a type of statutory authority created by Acts of state or federal parliaments.. 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]
SAS (Société par actions simplifiée): ≈ limited liability company (US, especially in Delaware), unlisted public company (Au), close corporation (CC) (S. Africa), private corporation (Can); often used for subsidiaries; minimum of one director and two members/shareholders; no limit on share capital; liability can be restricted to director ...
A corporation may be chartered in any of the 50 states (or the District of Columbia) and may become authorized to do business in each jurisdiction it does business within, except that when a corporation sues or is sued over a contract, the court, regardless of where the corporation's headquarters office is located, or where the transaction ...
The Federal National Mortgage Association (FNMA), colloquially known as Fannie Mae, is a Congressionally-chartered enterprise that acts as a major player in the mortgage industry.
The license may be implied by a reference in the charter application to the bank being created "under" the state banking law. Federal depository institutions such as National Banks, or federally chartered credit unions derive their authority from federal statutory charter law.
The NCUA federally insures all federal credit unions. The NCUA also insures some state-chartered credit unions while others might be covered by private deposit insurance.