conservatorship

[kuhn-sur-vuh-ter-ship]

noun

1. the position of being a conservator, especially a person who repairs, restores, or maintains the condition of objects in a museum, library, etc..

   The program will give participants an opportunity to get a feel for the level of precision and care necessary for a career in museum conservatorship.

2. Law.,  an agreement or order under which one person or entity controls the personal and financial affairs of another, such as a minor or someone who is considered legally incapable of managing their own affairs.

   She's under a court-approved conservatorship that oversees every significant purchase and every key decision that she wants to make.

3. Law.,  an agreement whereby a business or financial entity is placed under the control of another entity, usually temporarily and often as a result of prior or impending failure.

   This week, a bipartisan coalition in the legislature is demanding that the agency’s leaders be replaced and the agency be put under an independent conservatorship.

Word History and Origins

Origin of conservatorship¹

conservator ( def. ) + -ship ( def. )

Example Sentences

If the two entities were to go public, would their boards become independent or remain under government conservatorship?

Read more on MarketWatch

Pulte indicated Fannie Mae and Freddie Mac will likely remain in conservatorship, with a decision on an IPO expected this quarter or early next year.

Read more on Barron's

Like Spears, Federline's book details their intimate and chaotic relationship, the mental anguish they both suffered and provides an inside glimpse at the conservatorship battle that dictated much of Spears' life and career.

Read more on BBC

It is unclear whether the companies would remain under government conservatorship if the White House went ahead with a public offering.

Read more on The Wall Street Journal

He writes that he was supportive of a conservatorship, under which many aspects of Spears's life were controlled by others for years.

Read more on BBC