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Beneficial owner is subject to a state's statutory laws regulating interest or title transfer. [2] This often relates where the legal title owner has implied trustee duties to the beneficial owner. [clarification needed] A common example of a beneficial owner is the real or true owner of funds held by a nominee bank.
A beneficial owner is any individual who owns or controls at least 25% of an organization, or directly or indirectly exercises substantial control in any of the following roles:
Optibase made a capital contribution of approximately $4,025,000 to acquire a 19.66% indirect beneficial interest in the owner of the Property. For further information, please refer to our proxy ...
This could be referred to as the Chambers Model of intention, where the settlor intends to retain the beneficial interest in the property but transfers the legal title. Differentiating between a positive intention to retain beneficial interest and a lack of intention to benefit the transferee is significant.
A shell corporation is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial owners, and this is still the defining feature of shell companies due to the loopholes in the global corporate transparency initiatives. [1]
The entity whose name is recorded as the legal owner of the securities is known as the "nominee owner," and that entity has ownership rights in the security. [1] The nominee owner holds those ownership rights on behalf of the true economic owner who is referred to as the beneficial owner. [1]
This is called “permissive use:” the vehicle owner and the auto insurer are permitting you to drive the vehicle temporarily, so insurance coverage extends to you while using that vehicle.
Other research has indicated a synergy between a benefit corporation and employee ownership. [ 9 ] As a matter of law, in the 36 states that recognize this form of business, a benefit corporation is intended "to merge the traditional for-profit business corporation model with a non-profit model by allowing social entrepreneurs to consider ...
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