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LSDefine

Simple English definitions for legal terms

beneficial owner

Read a random definition: veto-proof majority

A quick definition of beneficial owner:

Beneficial owner: A person or group that owns or controls something, like a company or property. They may not be the official owner on paper, but they have the power to make decisions about it. For example, if someone owns more than 5% of a company's stock, they must tell the government. This helps people know who really has control over important things.

A more thorough explanation:

Beneficial owner refers to a person or entity that ultimately owns or controls an interest in a legal entity, such as a security, property, or interest in a trust.

For example, if you own shares in a company through a broker, you are the beneficial owner of those shares, even though the broker is the registered owner. In the securities context, individuals who are beneficial owners of more than 5% of any class of a public company’s stock must file a Schedule 13D or Schedule 13G.

According to Securities Act Rule 13d-3, a beneficial owner is "any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares: (1) Voting power which includes the power to vote, or to direct the voting of, such security; and/or, (2) Investment power which includes the power to dispose, or to direct the disposition of, such security."

For instance, if a person owns 10% of a company's stock and has the power to vote on important decisions, they are considered a beneficial owner. Similarly, if a trust owns a property and a person has the power to make decisions about that property, they are also a beneficial owner.

beneficial interest | beneficial ownership

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did you apply to gulc daddy
1a2b3c4d26z
17:34
yessur
lfg
i guess gulc tmrw
17:38
got another lawhub update email an hour after the first and nothing else has changed since the UVA UR2
17:38
don't tell me they moved me to UR3 lol
HopefullyInLawSchool
17:38
@babycat: did you not understand my silly joke?
babycat
17:42
@HopefullyInLawSchool: was talking about the guy who said he wasn’t here for banter, not you!
babycat
17:44
the poet must not avert his eyes
HopefullyInLawSchool
17:45
I was refencing the popular meme that's become a critically acclaimed talk pod cast, "Talk Tuah," which yes I am an avid listener of.
babycat
17:46
https://www.instagram.com/reel/DCW1ILZv-4z/ I like these guys
initiallaw
17:47
@info-man: I got my ii the day after that happened to me… not saying that’s what’s gonna happen butttt
HopefullyInLawSchool
17:47
Any fellow Hawk Tuahers in the chat?
windyMagician
17:48
as in we engage in the practice or we're fans?
HopefullyInLawSchool
17:48
either or
HopefullyInLawSchool
17:49
I for one enjoy a hawk tuah on my tally wacker
17:50
@initiallaw: appreciate it! i guess we'll see. don't think my current score's high enough to net me an II but i would certainly love to be wrong
HopefullyInLawSchool
17:50
check this out on reddit we gottem
HopefullyInLawSchool
17:50
look at the comments
windyMagician
17:51
nice
babycat
17:52
I guess I don’t understand why you need to specifically spit on it if you already have a wet mouth but I’m open to being convinced otherwise
babycat
17:53
Is spitting on it just for hand jobs?
snow
17:53
tf is going on in the chat rn
windyMagician
17:54
i heard guys like it when it's sloppy so spitting on it helps
HopefullyInLawSchool
17:54
Typically yes just for hand jobs
what if you have a dry mouth
so sad
JumpySubsequentDolphin
17:56
so true waspy
windyMagician
17:56
that's why they invented flavored lube
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