operating corporation
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 1042 — for purposes of this section
The term “operating corporation” means a corporation more than 50 percent of the assets of which were, at the time the security was purchased or before the close of the replacement period, used in the active conduct of the trade or business.
26 U.S.C. § 1042 — for purposes of this section (2 versions over time)
The term “operating corporation” shall include—
(I) any financial institution described in section 581, and
(II) an insurance company subject to tax under subchapter L.