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Quasi-corporation

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A quasi-corporation is an entity that exercises some of the functions of a corporation, but has not been granted separate legal personality by statute. For example, a public corporation with limited authority and powers such as a county or school district is a quasi-corporation.

Definition

A quasi-corporation is an entity that is not incorporated or otherwise legally established, but which functions as if it were a corporation.

United States

Federal government

Further information: Government-sponsored enterprise, State-owned enterprises of the United States, and Independent agencies of the United States government

When created by the federal government of the United States, these entities are commonly called quasi-public corporations. These now or in the past have included telegraph and telephone companies, oil and gas, water, and electrical power companies, and irrigation companies. Some examples of quasi-public corporations in the US are Sallie Mae, Fannie Mae/Freddie Mac, Amtrak (National Railroad Passenger Corporation), the Communications Satellite Corporation (“COMSAT”), and the US Postal Service.

State and local government

In the United States, such entities established, supported, or controlled by a city, county, or township may be called quasi-municipal corporations.

References

  1. "OECD Glossary of Statistical Terms - Quasi-corporations Definition". stats.oecd.org. Retrieved May 18, 2020.
  2. "Quasi-corporation". Wex. Cornell Law School. Retrieved 16 October 2021.
  3. Lienart, Ian (8 June 2008). "Where Does the Public Sector End and the Private Sector Begin?". IMF Working Paper No. 09/122.
  4. Liberto, Daniel. "Quasi-Public Corporation Definition". Investopedia. Retrieved 2020-04-16.
  5. André, Rae (December 2010). "Assessing the Accountability of Government-Sponsored Enterprises and Quangos". Journal of Business Ethics. 97 (2): 271–289. doi:10.1007/s10551-010-0509-y. S2CID 154627238.
  6. Tooke, C.W. (1931). "The Status of the Municipal Corporation in American Law". Minnesota Law Review. 16: 343.
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