South Carolina Statutes
§ 58-15-240 — Fictitious increase of stock or indebtedness shall be void.
South Carolina·Title 58 PUBLIC UTILITIES, SERVICES AND CARRIERS·Ch. 15 RAILROAD, STREET RAILWAY, STEAMBOAT AND CANAL COMPANIES
Neither stocks nor bonds shall be issued by any corporation organized under this chapter except for money paid, property delivered or labor done and all fictitious increase of stock or indebtedness shall be void.
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South Carolina § 58-15-240 (Fictitious increase of stock or indebtedness shall be void.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 58-682; 1952 Code SECTION 58-682; 1942 Code SECTION 8195; 1932 Code SECTION 8195; Civ. C. '22 SECTION 4375; Civ. C. '12 SECTION 2889; Civ. C. '02 SECTION 1932; 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.