South Carolina § 33-13-250 Payment.

South Carolina Statutes

§ 33-13-250 — Payment.

South Carolina § 33-13-250

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 13DISSENTERS' RIGHTS

This text of South Carolina § 33-13-250 (Payment.) 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. § 33-13-250 (2026).

Text

(a)Except as provided in Section 33-13-270, as soon as the proposed corporate action is taken, or upon receipt of a payment demand, the corporation shall pay each dissenter who substantially complied with Section 33-13-230 the amount the corporation estimates to be the fair value of his shares, plus accrued interest.

(b)The payment must be accompanied by:

(1)the corporation's balance sheet as of the end of a fiscal year ending not more than sixteen months before the date of payment, an income statement for that year, a statement of changes in shareholders' equity for that year, and the latest available interim financial statements, if any;

(2)a statement of the corporation's estimate of the fair value of the shares and an explanation of how the fair value was calculated;

(3)an explana

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(a) Except as provided in Section 33-13-270, as soon as the proposed corporate action is taken, or upon receipt of a payment demand, the corporation shall pay each dissenter who substantially complied with Section 33-13-230 the amount the corporation estimates to be the fair value of his shares, plus accrued interest. (b) The payment must be accompanied by: (1) the corporation's balance sheet as of the end of a fiscal year ending not more than sixteen months before the date of payment, an income statement for that year, a statement of changes in shareholders' equity for that year, and the latest available interim financial statements, if any; (2) a statement of the corporation's estimate of the fair value of the shares and an explanation of how the fair value was calculated; (3) an explanation of how the interest was calculated; (4) a statement of the dissenter's right to demand additional payment under Section 33-13-280; and (5) a copy of this chapter.

Legislative History

HISTORY: Derived from 1976 Code SECTION 33-11-270 [1962 Code SECTION 12-16.27; 1952 Code SECTIONS 12-459 to 12-462, 12-633 to 12-635; 1942 Code SECTIONS 7706, 7759; 1932 Code SECTIONS 7706, 7759; 1925 (34) 246; 1926 (34) 1052; 1962 (52) 1996; 1963 (53) 327; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 2]; 1988 Act No. 444, SECTION 2.