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Featuring Black’s Law Dictionary Free Online Legal Dictionary 2nd Ed.

What is CORPORATION DE FACTO

One existing under color of law and in pursuance of an effort made in good faith to organize a corporation under the statute; an association of men claiming to be a legally incorporated company, and exercising the powers and functions of a corporation, but without actual lawful authority to do so. Foster v. Hare, 20 Tex. Civ. App. 177, 02 S. W. 541; Attorney General v. Stevens, 1 N. J. Eq. 378, 22 Am. Dec. 520; Manufacturing Co. v. Scho- field, 28 Ind. App. 95, 02 N. E. 100; Cedar Rapids Water Co. v. Cedar Rapids, 118 Iowa, 234, 91 N. W. 1081; Johnson v. Okerstrom, 70 Minn. 303, 73 N. W. 147; Tulare Irrig. Dist. v. Shepard, 185 U. S. 1, 22 Sup. Ct. 531, 46 L. Ed. 773; In re Gibbs’ Estate, 157 Pa. 59, 27 Atl. 383, 22 L. R. A. 276; Pape v. Bank, 20 Kan. 440, 27 Am. Rep. 183.

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