close corporation

noun

: a corporation whose stock is not publicly traded but held by a few persons (such as those in management)

Examples of close corporation in a Sentence

Recent Examples on the Web With very rare exceptions (such as Nevada's close corporation statute), charging orders are not authorized by statutes of a corporate nature, which includes Ohio professional associations. Jay Adkisson, Forbes, 20 Sep. 2021

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'close corporation.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

circa 1902, in the meaning defined above

Time Traveler
The first known use of close corporation was circa 1902

Dictionary Entries Near close corporation

Cite this Entry

“Close corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/close%20corporation. Accessed 17 Apr. 2024.

Legal Definition

close corporation

see corporation

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