Examlex
During the 1980s and 1990s, many large correctional and community supervision agencies adopted new policies that were known as a:
De Facto Corporation
A company that operates like a corporation and may be treated as one for legal purposes, despite not having completed formal incorporation steps.
State Incorporation Statute
Laws established by individual states governing the process, requirements, and regulations for the incorporation of businesses within their jurisdiction.
Closely Held
Refers to a business that has a small number of shareholders, often family members, without public stock offerings.
Offer Stock
The process by which a corporation issues new shares of stock to potential buyers, typically to raise capital.
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