Cite as: 18 CNCA § 403

For the purposes of this act:

1. "Parent company" means a company that owns a majority of the shares in another company or companies.

2. "Subsidiary" means a company owned by another company. If a subsidiary is wholly owned, all its stock is held by the parent company.

Historical Data

LA 37–05, eff. December 18, 2005. Amended LA 23–12, eff. August 23, 2012.