South Carolina § 58-17-350 Maximum amount of capital stock which may be named in certificate; increase.

South Carolina Statutes

§ 58-17-350 — Maximum amount of capital stock which may be named in certificate; increase.

South Carolina § 58-17-350

Title 58PUBLIC UTILITIES, SERVICES AND CARRIERS

Ch. 17THE GENERAL RAILROAD LAW

This text of South Carolina § 58-17-350 (Maximum amount of capital stock which may be named in certificate; increase.) 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. § 58-17-350 (2026).

Text

The capital stock to be named in the certificate aforesaid shall in no case be greater than the amount of the capital stock specified in the original charter of the railroad so sold and any amendment or amendments thereto. Nothing herein contained, however, shall be construed to prevent an increase of capital stock to such additional amount as may be needed to convert any bonds or other indebtedness of the original corporation into stock and the corporation so formed may divide its capital stock into common and preferred stock upon such terms and with such conditions as may be prescribed.

Free access — add to your briefcase to read the full text and ask questions with AI

The capital stock to be named in the certificate aforesaid shall in no case be greater than the amount of the capital stock specified in the original charter of the railroad so sold and any amendment or amendments thereto. Nothing herein contained, however, shall be construed to prevent an increase of capital stock to such additional amount as may be needed to convert any bonds or other indebtedness of the original corporation into stock and the corporation so formed may divide its capital stock into common and preferred stock upon such terms and with such conditions as may be prescribed.

Legislative History

HISTORY: 1962 Code SECTION 58-905; 1952 Code SECTION 58-905; 1942 Code SECTION 8276; 1932 Code SECTION 8221; Civ. C. '22 SECTION 4785; Civ. C. '12 SECTION 3116; Civ. C. '02 SECTION 2042; G. S. 1420; R. S. 1610; 1881 (17) 793; 1889 (20) 377.