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单词 mutual association
释义

mutual association

Definition
Saving and loan association owned by its depositors and (in some cases) borrowers, both collectively referred to as members. Mutual associations do not issue shares (stock) and their members have no direct claim to their earnings, but the members have the right to elect directors to its board of trustees. Credit unions are a type of mutual association.
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更新时间:2025/4/18 8:35:14