open corporation

open corporation
A corporation the stock of which is widely held, the ownership of the shares not being confined to one man, a family, or persons in close association. A corporation in which all of the citizens or corporators have a vote in the election of the officers of the corporation. See McKim v Odom (Md) 3 Bland Ch 407, 416, footnote.

Ballentine's law dictionary. . 1998.

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