Austrian Economics: Update 2/09/14 - Take Profits Tax-free - Pass It On Tax -free - Contractually Guaranteed Annual IncomeSubmitted by barracuda_trader on Wed, 11/20/2013 - 07:36
UPDATE: Bank On Yourself for Seniors
Download a transcript of video here http://www.bankonyourself.com/wp-content/uploads/Bank-On-You...
Definition of 'Mutual Company'
A private company whose ownership base is made of its clients or policyholders. The defining feature of a mutual company is since its customers are also its owners, they are entitled to receive profits or income generated by the mutual company. Such distribution of profits may typically be in the form of dividends made on a pro rata basis, based on the amount of business each customer conducts with the mutual company. Also referred to as a "cooperative."
Investopedia explains 'Mutual Company'
The mutual company structure is commonly found in the insurance industry, as well as in savings and loans associations. In addition, many banking trusts and community banks in the U.S., and credit unions in Canada, are also structured as mutual companies.
The term "mutual" is believed to arise from the fact that in an insurance mutual company, for instance, a policyholder is both the insured party (as the company's customer) and the insurer (as part owner).
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Read more about the Bowling’s »http://www.bankonyourself.com/bank-on-yourself-client-profile-shay-and-christi-bowling
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