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Free Preview Closely Held Corporation Definition
Description Held Corporation
Closely held corporations are those in which a small group of shareholders control the operating and managerial policies of the corporation. Most, but not all, closely held corporations are also family businesses. Family businesses may be defined as those companies where the link between the family and the business has a mutual influence on company policy and on the interests and objectives of the family.
A voting trust is a device for combining the voting power of shareholders. It is not unlawful for shareholders to combine their voting stock for the election of directors so as to obtain or continue the control or management of a corporation. Some state laws limit the duration of voting trusts to a period of a certain number of years.
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Held Corporation Uslegal Other Form Names
Shares Held File FAQ
What is a voting trust certificate?
What is a shareholder trust?
Which type of shareholders have voting rights?
What is voting trust agreement?
How does a corporate shareholder vote?
What is a voting agreement?
What is the maximum period of effectivity for voting trust agreements?
Which shareholder has the voting right in the company?
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