Search results
Results From The WOW.Com Content Network
A municipally owned corporation is a corporation owned by a municipality.They are typically "organisations with independent corporate status, managed by an executive board appointed primarily by local government officials, and with majority public ownership."
municipality consists of an urban area (termed a city or town) plus all of its surrounding barrios comprising the municipality. It has a popularly elected administration and a municipal mayor. The seat of the municipal government is located in such urban area and serves the entire municipal jurisdiction. [19] [20] Municipalities of Puerto Rico ...
Municipal incorporation occurs when such municipalities become self-governing entities under the laws of the state or province in which they are located. Often, this event is marked by the award or declaration of a municipal charter. A city charter or town charter or municipal charter is a legal document establishing a municipality, such as a ...
4947(a)(1) – Non-exempt charitable trusts that have exclusively charitable interests. [147] 4947(a)(2) – Split-interest trusts. [147] 115(1) – Entities that derived their income a public utility or the exercise of any essential governmental function and accruing to a state or municipality. [148] 115(2) – States and municipalities. [148]
A municipal council is the legislative body of a municipality or local government area. Depending on the location and classification of the municipality it may be known as a city council, town council, town board, community council, rural council, village council, or board of aldermen.
Publicly owned utilities include cooperative and municipal utilities. Municipal utilities may actually include territories outside of city limits or may not even serve the entire city. Cooperative utilities are owned by the customers they serve. They are usually found in rural areas. Publicly owned utilities are non-profit.
By contrast, certain other nonprofit organizations are not considered non-partisan: 501(c)(4) organizations, which are tax-exempt, are operated exclusively for promoting social welfare, or local organizations with membership limited to a particular company, municipality, or neighborhood, and which devote their earnings to charity, education, or recreation. [9]
Definition [ edit ] A quasi-corporation is an entity that is not incorporated or otherwise legally established, but which functions as if it were a corporation.