Section 5:12-47 - "Subsidiary"a. Any corporation, any significant part of whose outstanding equity securities are owned, subject to a power or right of control, or held with power to vote, by a holding company or an intermediary company; orb. A significant interest in any firm, association, partnership, trust or other form of business organization, not a natural person, which is owned, subject to a power or right of control, or held with power to vote, by a holding company or an intermediary company.L.1977, c.110, s.47, eff. 6/2/1977; amended by L.1979, c.282, s.9, eff. 1/9/1980.