Examlex
Which of the following statements best describes the federal government's role in higher education?
Corporate Veil
A legal concept that separates the personal liability of shareholders and officers from that of the corporation itself.
Artificial Legal Person
A non-human entity that is given legal rights and responsibilities, such as a corporation or a government body.
Bylaws
The internal rules of management adopted by a corporation at its first organizational meeting.
Incorporate
The process of legally forming a corporation, which is a type of business entity recognized as separate from its owners.
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