conservatorship

[ kuhn-sur-vuh-ter-ship ]

Phonetic (Standard)IPA

noun

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.
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.
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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