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CORPORATE SOLE
CORPORATE SOLE
ScnAdmin
1.
an
individual
may
sell
his
franchise
to another providing that other is going to operate it and be as a person in that
area
. The
franchise
may not be sold into any
network
for non-resident
management
. The proper US
term
for the
type
of
company
is corporate sole; meaning an
individual
in whom the
property
and
funds
of a social or
religious
group
is
invested
. The corporate sole is a person who is a
custodian
of the
funds
and
property
of the
group
. This
type
of "
corporation
" is permissible in
franchise
.
(
HCO PL
10
Nov
69
II
)
2.
the grantee may
incorporate
his
mission
as a corporate sole which means that the
mission
is permanent and continuous and can
survive
a
change
in
personnel
in
charge
of the
mission
.
(
BPL
20
Nov
69R)