conservatorship

American  

[kuhn-sur-vuh-ter-ship] / kənˈsɜr və tər ʃɪp /

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.

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Etymology

Origin of conservatorship

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

Example Sentences

They have remained functionally insolvent and under government conservatorship ever since.

From The Wall Street Journal

The two companies have been under conservatorship by the Federal Housing Finance Agency since then.

From Barron's

In 2017, he got a conservatorship over his mother’s estate, according to the people he told, and it was later dissolved.

From The Wall Street Journal

Coffey evaluated several paths for the companies’ eventual exit from conservatorship, which requires building their capital reserves and deciding how to handle the government’s senior preferred equity.

From Barron's

After the government placed Freddie and Fannie into conservatorship, few investors wanted to own their common stocks, which for years traded on the over-the-counter market for pennies.

From The Wall Street Journal