passive investment
Defined in 1 place of the United States Code.
Passive investment.—The term “passive investment” means an investment in which neither the investor nor any affiliate of the investor is involved in, or has the power to be involved in, the formulation, determination, or direction of any activity or function concerning the management, use, or operation of the asset that is the subject of the investment.
Source
- 2006–present46 U.S.C. § 12119Shipping · Owners engaged primarily in leasing or financing transactions · in this section