28.   "Intermediary company" --Any corporation, association, firm, partnership, trust or any other form of business organization other than a natural person which:

   a.   Is a holding company with respect to a corporation or other form of business organization which holds or applies for a casino license, and

   b.   Is a subsidiary with respect to any holding company.

   L.1977,c.110,s.28; amended 2002, c.65, s.6.