Filed Under: Corporate and Commercial Law
2 definitions found for this term.
Definitions are presented in the order source books were published (most recent first).
Financial Skills for Professionals$65.00 – $104.00
A company a majority of whose voting shares are owned by another company (the parent).
A corporation that is controlled, directly or indirectly, by another 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.