Filed Under: Corporate and Commercial Law
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
A corporation that controls another corporation. The controlled corporation is a “subsidiary corporation.”
“Control” for the purpose of the definition of “subsidiary” is legal control: holding voting securities of the corporation that carry more than 50 percent of the votes that may be cast for the election of directors, where such votes are sufficient to elect a majority of the board of directors.