domestic corporation

domestic corporation
A term contrasting with "foreign corporation," meaning a corporation of the state, that is, a corporation organized and created under the laws of the state. Sometimes, more elaborately defined by statute as a corporation created by or under the laws of the state, or located in the state and created by or under the laws of the United States. First Nat. Bank v Doying (NY) 13 Daly 509, 510. As the term is used in Federal statutes in connection with corporations or partnerships, its usual meaning is created or organized in the United States, and the word "foreign" in the same connection usually means created or organized outside the United States. Hecht v Malley, 265 US 144, 154, 68 L Ed 949, 956, 44 S Ct 46. See foreign corporation.

Ballentine's law dictionary. . 1998.

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