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单词 mutual society
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mutual society
6. Originally U.S. Designating or relating to a financial institution (as a building society, insurance company, etc.) without capital stock, that is owned by its members who subscribe to a common fund from which claims, loans, etc., are paid, profits after deductions being shared between them. Frequently in mutual company, mutual society.
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society > trade and finance > financial dealings > banking > [adjective] > types of financial institution
mutual1784
savings and loan1840
Islamic1950
1784 Pennsylvania Gaz. 27 Oct. 3/3 The Office of the Mutual Assurance Company, for insuring Houses from loss by Fire, is kept by the subscriber, at his house in Quarry-street.
1798 Mass. Statute 1 Mar. The Massachusetts mutual fire insurance Company..shall have power to choose..fifteen Directors..to manage the concerns of the said Corporation.
1816 H. Wheaton Rep. Supreme Court U.S. 1 279 The Mutual Assurance Society v. Watts' Executor.
1836 Southern Literary Messenger May 388/2 Several of the associations for interment which have lately been instituted..style themselves ‘Mutual Burial Societies’. How can two individuals bury each other?
1849 H. D. Thoreau Resistance to Civil Governm. in Æsthetic Papers 195 One..who..ventures to live only by the aid of the mutual insurance company, which has promised to bury him decently.
1880 Encycl. Brit. XIII. 173/2 These bodies [sc. life assurance companies] have been of three kinds—(1) the purely mutual offices, in which the assured themselves constitute the society; (2) proprietary offices..; and (3) the mixed offices.
1912 E. V. French 1860–1910: Arkwright Co. 5 The Mutual Companies, beginning among the textile mills of New England.
1948 E. Hellman Rooiyard 43 The ‘stockfair’..can be roughly defined as a mutual benefit society.
1965 McGraw-Hill Dict. Mod. Econ. 340 As of May 30, 1962, the U.S. had 512 mutual savings banks.
1969 Times 30 Apr. 28/3 As a Mutual Society all our profits must go to our policyholders.
1972 Daily Tel. 4 Nov. 28/4 By lending those funds on mortgage, the [building] societies, which are mutual and non profit-making, pass on the benefit of the short-term cost of money to long-term borrowers.
1996 Sunday Tel. 31/1 As a mutual society we have no shareholders to take a slice of the profits.
extracted from mutualadj.n.
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