qualified insurance branch

(2) Qualified insurance branch For purposes of paragraph (1), the term “qualified insurance branch” means any branch of a controlled foreign corporation which is licensed and predominantly engaged on a permanent basis in the active conduct of an insurance business in a foreign country if— (A) separate books and accounts are maintained for such branch, (B) the principal place of business of such branch is in such foreign country, (C) such branch would be taxable under subchapter L if it were a separate domestic corporation, and (D) an election under this paragraph applies to such branch. An election under this paragraph shall apply to the taxable year for which made and all subsequent taxable years unless revoked with the consent of the Secretary.

Source

26 USC § 964(d)(2)


Scoping language

None identified, default scope is assumed to be the parent (subpart F) of this section.
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