CORPORATE SOLE

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Definitions

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)