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3 definitions found
 for Close corporation
From The Collaborative International Dictionary of English v.0.48 :

  Corporation \Cor`po*ra"tion\ (k[^o]r`p[-o]*r[=a]"sh[u^]n), n.
     [L. corporatio incarnation: cf. F. corporation corporation.]
     A body politic or corporate, formed and authorized by law to
     act as a single person, and endowed by law with the capacity
     of succession; a society having the capacity of transacting
     business as an individual.
     [1913 Webster]
  
     Note: Corporations are aggregate or sole. Corporations
           aggregate consist of two or more persons united in a
           society, which is preserved by a succession of members,
           either forever or till the corporation is dissolved by
           the power that formed it, by the death of all its
           members, by surrender of its charter or franchises, or
           by forfeiture. Such corporations are the mayor and
           aldermen of cities, the head and fellows of a college,
           the dean and chapter of a cathedral church, the
           stockholders of a bank or insurance company, etc. A
           corporation sole consists of a single person, who is
           made a body corporate and politic, in order to give him
           some legal capacities, and especially that of
           succession, which as a natural person he can not have.
           Kings, bishops, deans, parsons, and vicars, are in
           England sole corporations. A fee will not pass to a
           corporation sole without the word "successors" in the
           grant. There are instances in the United States of a
           minister of a parish seized of parsonage lands in the
           right of his parish, being a corporation sole, as in
           Massachusetts. Corporations are sometimes classified as
           public and private; public being convertible with
           municipal, and private corporations being all
           corporations not municipal.
           [1913 Webster]
  
     Close corporation. See under Close.
        [1913 Webster]

From The Collaborative International Dictionary of English v.0.48 :

  Close \Close\ (kl[=o]s), a. [Compar. Closer (kl[=o]"s[~e]r);
     superl. Closest.] [Of. & F. clos, p. p. of clore. See
     Close, v. t.]
     1. Shut fast; closed; tight; as, a close box.
        [1913 Webster]
  
              From a close bower this dainty music flowed.
                                                    --Dryden.
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     2. Narrow; confined; as, a close alley; close quarters. "A
        close prison." --Dickens.
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     3. Oppressive; without motion or ventilation; causing a
        feeling of lassitude; -- said of the air, weather, etc.
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              If the rooms be low-roofed, or full of windows and
              doors, the one maketh the air close, . . . and the
              other maketh it exceeding unequal.    --Bacon.
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     4. Strictly confined; carefully quarded; as, a close
        prisoner.
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     5. Out of the way observation; secluded; secret; hidden. "He
        yet kept himself close because of Saul." --1 Chron. xii. 1
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              "Her close intent."                   --Spenser.
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     6. Disposed to keep secrets; secretive; reticent. "For
        secrecy, no lady closer." --Shak.
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     7. Having the parts near each other; dense; solid; compact;
        as applied to bodies; viscous; tenacious; not volatile, as
        applied to liquids.
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              The golden globe being put into a press, . . . the
              water made itself way through the pores of that very
              close metal.                          --Locke.
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     8. Concise; to the point; as, close reasoning. "Where the
        original is close no version can reach it in the same
        compass." --Dryden.
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     9. Adjoining; near; either in space; time, or thought; --
        often followed by to.
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              Plant the spring crocuses close to a wall.
                                                    --Mortimer.
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              The thought of the Man of sorrows seemed a very
              close thing -- not a faint hearsay.   --G. Eliot.
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     10. Short; as, to cut grass or hair close.
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     11. Intimate; familiar; confidential.
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               League with you I seek
               And mutual amity, so strait, so close,
               That I with you must dwell, or you with me.
                                                    --Milton.
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     12. Nearly equal; almost evenly balanced; as, a close vote.
         "A close contest." --Prescott.
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     13. Difficult to obtain; as, money is close. --Bartlett.
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     14. Parsimonious; stingy. "A crusty old fellow, as close as a
         vise." --Hawthorne.
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     15. Adhering strictly to a standard or original; exact;
         strict; as, a close translation. --Locke.
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     16. Accurate; careful; precise; also, attentive; undeviating;
         strict; not wandering; as, a close observer.
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     17. (Phon.) Uttered with a relatively contracted opening of
         the mouth, as certain sounds of e and o in French,
         Italian, and German; -- opposed to open.
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     Close borough. See under Borough.
  
     Close breeding. See under Breeding.
  
     Close communion, communion in the Lord's supper, restricted
        to those who have received baptism by immersion.
  
     Close corporation, a body or corporation which fills its
        own vacancies.
  
     Close fertilization. (Bot.) See Fertilization.
  
     Close harmony (Mus.), compact harmony, in which the tones
        composing each chord are not widely distributed over
        several octaves.
  
     Close time, a fixed period during which killing game or
        catching certain fish is prohibited by law.
  
     Close vowel (Pron.), a vowel which is pronounced with a
        diminished aperture of the lips, or with contraction of
        the cavity of the mouth.
  
     Close to the wind (Naut.), directed as nearly to the point
        from which the wind blows as it is possible to sail;
        closehauled; -- said of a vessel.
        [1913 Webster]

From WordNet (r) 3.0 (2006) :

  close corporation
      n 1: a corporation owned by a few people; shares have no public
           market [syn: closed corporation, close corporation,
           private corporation, privately held corporation]

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