Close corporation
Defined in 1 dictionary — Black's (1910)
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
One in which the directors and officers have the power to fill vacancies in their own number, without allowing to the general body of stockholders any choice or vote in their election. McKim v. Odom, 3 Bland (Md.) 416, note.
Defined under Close in Black's Law Dictionary.