Pension Benefit Guaranty Corporation (PBGC)


 

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Pension Benefit Guaranty Corporation (PBGC)

A federal agency that insures the vested benefits of pension plan participants (established in 1974 by the ERISA legislation).



Pension Benefit Guaranty Corporation (PBGC)

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Transnational corporation

Transnational corporation

1. Same as multinational corporation, though for some reason this term seems to be preferred by those who don't like them. 2. A corporation whose national identity is a matter of convenience only, and that will move its headquarters readily in response to incentives.


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Controlled foreign corporation (CFC)

A foreign corporation whose voting stock is more than 50% owned by US stockholders, each of whom owns at least 10% of the voting power.


Articles of incorporation

Articles of incorporation

In the US, the document which the founders of a corporation submit to the relevant state for approval after which a certificate of incorporation is issued. These two documents form the corporation's charter which endorses its legality. Information listed in the charter includes the name of the corporation, purpose, number of authorised shares and details of directors. The rules under which the corporation's internal management operates are listed in the bylaws.


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National Association of Investors Corporation

A non-profit, tax exempt organisation located in Michigan, US, whose membership consists of investment clubs and individual investors. NAIC was founded in 1951 with a mission to provide a program of sound investment information, education and support for investors.


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Edge corporations

Specialized banking institutions, authorized and chartered by the Federal Reserve Board of Governors in the U.S., that are allowed to engage in transactions of a foreign or international character. They are not subject to restrictions on interstate banking. Foreign banks operating in the US are permitted to organize and own an edge corporation.


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