South Carolina Statutes
§ 35-2-216 — "Subsidiary" defined.
As used in this article, "subsidiary" of any resident domestic corporation means any other corporation of which voting shares having a majority of the outstanding voting shares of the other corporation entitled to be cast are owned (directly or indirectly) by the resident domestic corporation.
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South Carolina § 35-2-216 ("Subsidiary" defined.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1988 Act No. 444, SECTION 5, eff April 22, 1988.
Nearby Sections
15
§ 35-2-101
"Control shares" defined.§ 35-2-102
"Control share acquisition" defined.§ 35-2-104
"Issuing public corporation" defined.§ 35-2-105
Voting rights under Section 35-2-109.§ 35-2-106
Acquiring person statement.§ 35-2-107
Special meeting of shareholders.§ 35-2-108
Notice of shareholder meeting.§ 35-2-110
Redemption of acquired control shares.§ 35-2-201
"Affiliate" defined.§ 35-2-202
"Announcement date" defined.§ 35-2-203
"Associate" defined.§ 35-2-204
"Beneficial owner" defined.