The phrase is not used to describe a company which operates as a conventional shareholder-owned company registered under the Companies Acts.

Several other mutual companies, including Metropolitan Life, are expected to convert to shareholder-owned companies and sell stock in the coming months.

Under the terms of the deal, Axa will get back the $750 million in secured notes if Equitable fails to convert to a shareholder-owned company.

Better known as Fannie Mae, the shareholder-owned company is the largest insurer of home mortgages in the nation.

Insurance executives said, though, that most Blue Cross associations were still not interested in becoming shareholder-owned companies.

Fannie Mae is the federally chartered, shareholder-owned company that invests in home mortgages.

He can hardly wait for the company to be turned into a shareholder-owned company and for Western investment.

The Congressionally chartered, shareholder-owned company is the nation's largest investor in home mortgages.

The institute is an association of more than 200 shareholder-owned electric companies in this country along with their international affiliates and worldwide industry associates.

But in 1982 it converted to a shareholder-owned company and soon became an aggressive lender on real estate.