Eleemosynary Corporation Law and Legal Definition
Eleemosynary Corporation is a corporation created for or devoted to charitable purposes or one supported by charity. It is a corporation created, not for private gain or profit, but for the administration of a charitable trust or for a charitable purpose, such as the maintenance of a hospital.
They are private corporations though incorporated for the administration of the public charity which is endowed by private benefactions from such persons as bestow them. The relation of trustees to the eleemosynary corporation is analogous to that of directors and stockholders in a business corporation. [Gilbert v. McLeod Infirmary, 219 S.C. 174 (S.C. 1951)]
Legal Definition list
Related Legal Terms
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Alaska Native Corporation
- Amended and Restated Articles of Incorporation
- American Municipal Bond Assurance Corporation
- Ancillary Corporation
- Articles of Incorporation
- Benevolent Corporation
- Business Corporation
- C Corporation
