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

In September 2023, a Tennessee judge ordered the end of the conservatorship.

From Los Angeles Times

The directive raises concerns for investors hoping for a public offering or exit from government conservatorship, despite a 200% stock rise last year on such hopes.

From Barron's

They acknowledged that conservatorship is now unlikely to end, but said other policies could boost the stocks, both of which have doubled over the last 52 weeks.

From MarketWatch

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