English to English translations [PRO]
Law/Patents - Law (general) | | English term or phrase: all the other incidents of stock ownership | Context 1
"James W. Bamford founded Bamford, Inc. (Corporation), and served as its president until his death. Before his death, James executed the Bamford Irrevocable Voting Trust (Trust) which transferred all of the voting rights of his Corporation stock to the Trust and specified him as the sole voting trustee until his death. James retained all the other ***incidents*** of stock ownership."
Context 2
"IT IS FURTHER ORDERED that other ***incidents*** of stock ownership, including but not limited to the right to vote and participate in corporate affairs, the right to eventual residual ownership of shares in the named Corporations, and all other rights to the stock, save and except the annual cash payment or other cash disbursement, are hereby transferred back to the individual. The Court Trustee may not and shall not exercise any discretion as to the ownership of any incidents of the stock other than the cash disbursements. "
"incidents" in these sample paragraphs mean something like "interests"? |
| MatsumiKudoZ activityQuestions: 12 (none open) Answers: 0
| Local time: 10:17
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| | privileges or rights [associated with stock ownership] | Explanation:
As simple as that. It is in the Oxford Dictionary anyway:
incident 2 Law a privilege, burden, or right attaching to an office, estate, or other holding.
So, ownership of stock means such privilege as to vote, to be involved in management, and so on. |
| Selected response from:
  Erich Ekoputra
Indonesia
Local time: 08:17
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16 mins confidence:  
32 mins confidence: all the other "rights" of stock ownership
Explanation:
Think the key here is that there is an intention to distinguish ownership from rights; ie. the transferee may be given the right to buy the stock or indeed to sell the stock. See explanation below:
"In examining an insurance policy, the term "incidents of ownership"' is not limited in its meaning to ownership of the policy in the technical legal sense. Generally speaking, the term has reference to the right of the insured or his estate to the economic benefits of the policy. Therefore, it includes the power to change the beneficiary, to surrender or cancel the policy, to assign the policy, to revoke an assignment, to pledge the policy for a loan, or to obtain from the insurer a loan against the surrender value of the policy, etc. Incidents of ownership are frequently described as rights to a life insurance policy's "economic benefits". Incidents of ownership can be major estate planning factors for policy owners who wish to transfer policy ownership from themselves to another person or a trust, thereby removing the policies from their estates."
Reference: http://definitions.uslegal.com/i/incidents-of-ownership/
| Julie Waddington
Spain
Local time: 03:17
Specializes in field
Native speaker of:  English
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The translation workplace 
