Applicable policyholder
For purposes of this subsection—
(i) In general
(i)In general#
The term “applicable policyholder” means, with respect to any employer-owned life insurance contract, the person described in subparagraph (A)(i) which owns the contract.
(ii)Related persons#
The term “applicable policyholder” includes any person which—
(I) bears a relationship to the person described in clause (i) which is specified in section 267(b) or 707(b)(1), or
(II) is engaged in trades or businesses with such person which are under common control (within the meaning of subsection (a) or (b) of section 52).
(ii)(I)#
bears a relationship to the person described in clause (i) which is specified in section 267(b) or 707(b)(1), or
(ii)(II)#
is engaged in trades or businesses with such person which are under common control (within the meaning of subsection (a) or (b) of section 52).