NonStock Corporation, Non Stock Corporation
A Corporation that is without stockholders
A corporation without stockholders is considered a "Non Stock Corporation." Usually considered a non profit corporation. The laws concerning this entity are determined by state statutes. In most states a non stock corporation is similar to a stock corporation except there is an article that says that it is a non stock corporation and/or there will be no issuance of stock. A non stock corporation is usually governed by directors or members.