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GLOSSARY

Eleemosynary corporation definition

What does Eleemosynary corporation mean?

A corporation established for perpetual distribution of the free alms or bounty of the founder to such persons as the founder has directed.

They are typically hospitals or colleges, and thus include the colleges of the Universities of Oxford and Cambridge. They hold their property on trusts, rather than beneficially, and thus are subject to the jurisdiction of the court in the same manner as any other trustee.

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