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Definition of common council - a town or city council, now only in London and some parts of Canada and the US.
Common stock is a form of corporate equity ownership, a type of security. The terms voting share or ordinary share are also used frequently in other parts of the world; common stock being primarily used in the United States. It is called common to distinguish it from preferred stock. If both types of stock exist, common stockholders usually cannot be paid dividends until all preferred stock dividends are paid in full; it is possible to have common stock that has dividends that are paid alongside the preferred stock.