South Carolina Statutes
§ 31-1-630 — Reduction of rentals.
South Carolina § 31-1-630
This text of South Carolina § 31-1-630 (Reduction of rentals.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.C. Code Ann. § 31-1-630 (2026).
Text
If in any calendar or fiscal year the gross receipts of any company formed hereunder should exceed the payments or charges specified in Section 31-1-620, the sums necessary to pay dividends, interest accrued or unpaid on any stock or income debentures and the authorized transfer to surplus, the balance shall, unless the board of directors with the approval of the director shall deem such balance too small for the purpose, be applied to the reduction of rentals.
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Legislative History
HISTORY: 1962 Code SECTION 36-53; 1952 Code SECTION 36-53; 1942 Code SECTION 5271-25; 1933 (38) 176; 1993 Act No. 181, SECTION 501.
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
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Bluebook (online)
South Carolina § 31-1-630, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/1/31-1-630.