state classification rule


state classification rule
The principle that the character of a corporation is to be determined for the purposes of adjudication in bankruptcy by the classification in which the corporation was placed by the statutes of the state in which it was organized. Re Union Guarantee & Mortgage Co. (CA2 NY) 75 F2d 984, cert den 296 US 594, 80 L Ed 421, 56 S Ct 142.

Ballentine's law dictionary. . 1998.

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