Now incidentally, in a for-profit corporation-- this is how to understand this, this is a concept that is enshrined in law.

顺便提一下,在一家盈利性公司中,我们需要这样理解,这是个在法律中明文昭示的概念

耶鲁公开课 - 金融市场课程节选

This is something that's very important in the United States because, as I mentioned, insurance regulation is divided up over the fifty states and the problem that that creates is-- it's a nightmare for insurance companies because every different state has different laws.

在美国,这个协会是非常重要的,因为,就像我所提及的,保险监管被分散到了五十个州,这对任何一个保险公司而言,都是一个噩梦,因为各州法律各有不同

耶鲁公开课 - 金融市场课程节选