Legal Definition and Related Resources of Open-end Company
Meaning of Open-end Company
The technical name for what is commonly called a mutual fund; a company incorporated under the Investment Company Act of 1940 (15 U.S.C. §80a). A management company which is offering for sale or has outstanding any redeemable security of which it is the issuer; one that continuously offers its securities for sale as opposed to a closed end company which raises capital by a single offering of its stock to the public . An open-end company redeems its own shares, thereby allowing an investor to sell back the shares to the company.
Related Entries of Open-end Company in the Encyclopedia of Law Project
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Open-end Company in Historical Law
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Legal Abbreviations and Acronyms
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