Thursday, January 2, 2014

Conservatorship

Conservatorship is a legal concept in the United States of America, where an entity or organization is subjected to the legal control of an external entity or organization, known as a conservator. Conservatorship is established either by court order (with regards to individuals) or via a statutory or regulatory authority (with regards to organizations). When referring to government control of private corporations such as Freddie Mac or Fannie Mae, conservatorship implies a more temporary control than does nationalisation. In other legal terms, a conservatorship may refer to the legal responsibilities over a person who is mentally ill, including those who are psychotic, suicidal, incapacitated or is in some other way unable to make legal, medical or financial decisions on behalf of themselves.

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