Definition
Shareholder (stockholder) of a firm. In corporate legislation, a member is generally defined as (1) the subscriber to a firm's memorandum of association (or articles of incorporation) who is deemed to have agreed to become a member of the firm, and whose name is entered in the firm's register of members when the firm is registered (or incorporated), and (2) every other person who agrees to become a member of the firm and whose name is entered in the firm's register of members. Shareholders who join a firm at its inception are called founder members.
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