Quasi-corporation

A quasi-corporation is[1] an entity that exercises some of the functions of a corporation, but has not been granted separate legal personality by statute.[2] 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.[3]

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.[4] 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.[5]

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.[6]

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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