'Subsidiary' means:(1) a corporation fifty percent (50%) or more of whose voting stock; or(2) an entity other than a corporation that is taxed as a corporation under the Internal Revenue Code and fifty percent (50%) of whose net worth;is owned by another legal entity.As added by P.L.347-1989(ss), SEC.1. Amended by P.L.21-1990, SEC.17.
Indiana Legal Code