South Carolina § 13-17-180 Not-for-profit corporations; powers and limitations; annual audit.

South Carolina Statutes

§ 13-17-180 — Not-for-profit corporations; powers and limitations; annual audit.

South Carolina § 13-17-180

Title 13PLANNING, RESEARCH AND DEVELOPMENT

Ch. 17SOUTH CAROLINA RESEARCH AUTHORITY

This text of South Carolina § 13-17-180 (Not-for-profit corporations; powers and limitations; annual audit.) 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. § 13-17-180 (2026).

Text

The authority is authorized to establish not-for-profit corporations it considers necessary or appropriate to carry out the purposes of this chapter. These corporations have the powers provided to corporations under applicable corporate law including, but not limited to, the ability to establish one or more for-profit or not-for-profit corporations, provided, however, that the for-profit corporations are subject to applicable federal and state taxes, and provided that the for-profit corporations may not compete with any for-profit corporations incorporated in South Carolina. These corporations shall engage an independent accounting firm to conduct an annual audit of their books and records.

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The authority is authorized to establish not-for-profit corporations it considers necessary or appropriate to carry out the purposes of this chapter. These corporations have the powers provided to corporations under applicable corporate law including, but not limited to, the ability to establish one or more for-profit or not-for-profit corporations, provided, however, that the for-profit corporations are subject to applicable federal and state taxes, and provided that the for-profit corporations may not compete with any for-profit corporations incorporated in South Carolina. These corporations shall engage an independent accounting firm to conduct an annual audit of their books and records.

Legislative History

HISTORY: 1996 Act No. 308, SECTION 2, eff upon approval (became law without the Governor's signature on May 7,1996); 2005 Act No. 133, SECTION 1, eff June 7, 2005.