It will cease having public stockholders and will be required to reinvest all proceeds into the business to help maintain the system.

Otherwise it will be forced to dissolve and return the assets held in the trust to the public stockholders.

So when the news broke, two years ago this March, the public stockholders discovered that they had bought into seriously misrepresented goods.

Under the terms of the offering, public stockholders would receive the right to buy additional shares at a price that has not yet been set.

But the information gap between partnership investors and public stockholders is just one of the conflicts that litter the Enron battlefield, legal experts say.

Mr. Latimer also will oversee shareholder relations, dealing with the increasing number of public stockholders.

The junior subordinated discount debentures to be issued to public stockholders will pay 16 percent interest starting in 1993.

With their research, mutual funds "not only serve their own interests but the interests of other public stockholders."

Unlike a traditional bank owned by public stockholders, a member election for the Board of Directors is held once a year.

Too often public stockholders end up getting the raw end of these deals.