Section 2. Definitions


Latest version.
  • As used in this chapter: 1. The term "joint stock
      association" includes  every  unincorporated  joint  stock  association,
      company or enterprise having written articles of association and capital
      stock  divided  into  shares,  but  does  not include a corporation or a
      business trust.
        2. The  term  "business  trust"  means  any  association  operating  a
      business  under  a  written  instrument  or  declaration  of  trust, the
      beneficial interest under which is divided into  shares  represented  by
      certificates.
        3.  The  term  "stockholder"  means  every  member  of  a  joint stock
      association.
        4. The term "association," as used in article four  of  this  chapter,
      means  a  joint stock association or a business trust as defined in this
      section.