It was a move that both broadened shareholder ownership of the company and was a symbolic act for German companies.
Under New York law, a mutual company is required to distribute its accumulated profits or equity to its policyholders when it converts to shareholder ownership.
Overnight, government ownership has become the peoples' ownership but soon that will change a third time to shareholder ownership.
Their shareholder ownership, however, required them to fight increases in their capital requirements and regulation that would raise their costs and reduce their risk-taking and profitability.
He also prepared annual filings for the Federal Reserve Board on shareholder ownership and was involved in documenting transactions between the shareholders and First American.
The main test of a bank's well-being would be its level of capital, or shareholder ownership, which could be used as a cushion against losses.
When a mutual insurer converts to full shareholder ownership, the company's equity is divided among the policyholders.
Several other Chinese economists, most notably Li Yining, a Beijing University economics professor, have called on China to move to a system of shareholder ownership.
The split in shareholder ownership turned out to be the sticking point in negotiations, according to the NYT .
Companies Astoria Federal and Green Point Savings plan to convert from mutual, or depositor-owned, organizations to shareholder ownership.