2011 California Code
Corporations Code
TITLE 1. CORPORATIONS [100 - 14551]
CHAPTER 1. General Provisions and Definitions
Section 189
(a) Except as provided in subdivision (b), subsidiary of a specified corporation means a corporation shares of which possessing more than 50 percent of the voting power are owned directly or indirectly through one or more subsidiaries by the specified corporation.
(b) For the purpose of Section 703, subsidiary of a specified corporation means a corporation shares of which possessing more than 25 percent of the voting power are owned directly or indirectly through one or more subsidiaries as defined in subdivision (a) by the specified corporation.
(Amended by Stats. 1976, Ch. 641.)
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