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Statutory merger |
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Statutory mergerA merger in which one corporation remains as a legal entity, instead of a new legal entity being formed.Statutory merger Similar MatchesStatutory surplusStatutory surplusThe surplus of an insurance company determined by the accounting treatment of both assets and liabilities as established by state statutes. Statutory debt limitStatutory debt limitThe cap that Congress imposes on the amount of public debt that may be outstanding whether temporary or permanent. When this limit is reached, the Treasury may not sell new debt issues until Congress raises the limit. For a detailed listing of changes in the limit since 1941, see Budget of the United States Government. See: Debt outstanding subject to limitation. Statutory investmentStatutory investmentAn investment that a trustee is authorized to make under state law. Statutory votingStatutory votingThe standard rule in most corporations that there is one vote per share in elections of the board of directors. Statutory sick pay (SSP)Statutory sick pay (SSP)Sick pay made by employers to employees when the latter incur an illness or injury and are unable to work for more than three consecutive days. SSP is payable for the first eight weeks of absence after which sickness benefit becomes payable. SSP payments to employees are taxable and employers can reclaim these amounts from the DSS. |
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