§ 189
87 words·~1 min read·
/ca/corporations-code/189A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.