The term carries slightly different meanings depending upon the specific context and industry.
), since from a domestic perspective, the parent is merely a majority shareholder of a local corporation's stock.
To prevent banks from concealing their true structure or strength from regulators, they are required to give public notice of certain transactions with certain operating subsidiaries.
In the U.S. railroad industry, the term refers to a company that is a subsidiary but operates with its own identity and rolling stock.
In contrast, a non-operating subsidiary would exist on paper only, but for operating purposes would use the identity and rolling stock of the parent company.