South Carolina Statutes
§ 58-15-140 — Capital stock shall not be issued until price paid; exception.
South Carolina·Title 58 PUBLIC UTILITIES, SERVICES AND CARRIERS·Ch. 15 RAILROAD, STREET RAILWAY, STEAMBOAT AND CANAL COMPANIES
No capital stock shall be issued by any corporation organized under this chapter until the subscription price therefor has been fully paid, except when, by the terms of the petition, the capital stock is to be paid for in installments and payment of the deferred portion has been secured.
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South Carolina § 58-15-140 (Capital stock shall not be issued until price paid; exception.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 58-665; 1952 Code SECTION 58-665; 1942 Code SECTION 8193; 1932 Code SECTION 8193; Civ. C. '22 SECTION 4373; Civ. C. '12 SECTION 2887; Civ. C. '02 SECTION 1930; 1899 (23) 68.
Nearby Sections
15
§ 58-15-110
Effect of irregularity in incorporation.§ 58-15-1120
County where violation deemed committed.§ 58-15-1130
Taking part in violations shall be unlawful.§ 58-15-150
Railroads may issue no par common stock.§ 58-15-1540
Eliminated crossings shall be closed.