Section 1702. Meaning of "subsidiary" and "parent corporation"; certain types of subsidiaries defined

As used in this article, "subsidiary" (i)  means subsidiaries of the types described in subsection (b)  of  section
  one  thousand  seven  hundred  four  of  this  article  and subsidiaries
  acquired or held under this article, section one thousand  four  hundred
  five  or  section  four  thousand two hundred forty of this chapter, but
  (ii) does not include a subsidiary acquired or held  under  section  one
  thousand  four  hundred four of this chapter or a subsidiary acquired or
  held by an insurer authorized to make investments by subsection  (c)  of
  section  one  thousand  four  hundred three of this chapter; and "parent
  corporation"  means  a  parent  corporation  of  a  type  described   in
  subsection  (a), (b) or (c) of section one thousand seven hundred one of
  this article; "holding company operating subsidiary" means a  subsidiary
  (other  than  a  separate  account  subsidiary)  engaged or organized to
  engage in either or both of the following activities (i)  the  ownership
  and  management  of  other subsidiaries, and (ii) the raising of capital
  (debt or equity) which  could  be  loaned  to,  or  invested  in,  other
  subsidiaries or loaned to the parent corporation, provided that any such
  subsidiary  may  in  addition  engage in the ownership and management of
  assets authorized as investments for the parent corporation; "investment
  subsidiary"  means  a  subsidiary  (other  than   a   separate   account
  subsidiary)  engaged or organized to engage exclusively in the ownership
  and management of assets (other than equity securities of  subsidiaries)
  authorized  as  investments  for  the  parent  corporation  and of other
  investment subsidiaries;  and  "separate  account  subsidiary"  means  a
  subsidiary  acquired  or  held  under  section four thousand two hundred
  forty of this chapter.