South Carolina Statutes
§ 31-1-170 — Limited return on stock.
No stockholder in any corporation formed hereunder shall receive any dividend in any one year in excess of six per cent per annum except that when in any preceding year dividends in the amount prescribed in the articles of incorporation shall not have been paid on the stock the stockholders may be paid such deficiency without interest out of any surplus earned in any succeeding year.
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South Carolina § 31-1-170 (Limited return on stock.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 36-17; 1952 Code SECTION 36-17; 1942 Code SECTION 5271-19; 1933 (38) 176.
Nearby Sections
15
§ 31-1-10
Short title.§ 31-1-130
Par value shares.§ 31-1-140
Declaration required in articles.§ 31-1-150
Income debentures.§ 31-1-170
Limited return on stock.§ 31-1-180
Limitations on actions by companies.§ 31-1-20
Declaration of legislative finding.§ 31-1-220
Fees.