### Question
How does the law define parent” means a corporation which controls, directly or indirectly, at least 50 per centum of the voting stock of such corporation, and (2), the term “subsidiary?


### Answer
Under *APPENDIX U.S.C. § 883*, **parent” means a corporation which controls, directly or indirectly, at least 50 per centum of the voting stock of such corporation, and (2), the term “subsidiary** is defined as:

> a corporation not less than 50 per centum of the voting stock of which is controlled, directly or indirectly, by such corporation or its parent, but no corporation shall be deemed to be a “parent” or “subsidiary” hereunder unless it is incorporated under the laws of the United States, or any State, Territory, District, or possession thereof, and there has been filed with the Secretary of the Treasury a certificate as hereinafter provided

#### Citation:
  - *APPENDIX U.S.C. § 883*
  - Heading: **CHAPTER 24-MERCHANT MARINE ACT, 1920**

