Majority Owned Subsidiary Law and Legal Definition

According to 12 CFR 347.202 [Title 12 -- Banks and Banking; Chapter III -- Federal Deposit Insurance Corporation; Subchapter B -- Regulations and Statements of General Policy; Part 347 -- International Banking; Subpart B -- Foreign Banks], majority owned subsidiary means “a company the voting stock of which is more than 50 percent owned or controlled by another company.”