South Carolina Statutes
§ 33-18-250 — Limited liability.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 18 STATUTORY CLOSE CORPORATION SUPPLEMENT
The failure of a statutory close corporation to observe the usual corporate formalities or requirements relating to the exercise of its corporate powers or management of its business and affairs is not a ground for imposing personal liability on the shareholders for liabilities of the corporation.
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South Carolina § 33-18-250 (Limited liability.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1988 Act No. 444, SECTION 2. ARTICLE 4 Reorganization and Termination
Nearby Sections
15
§ 33-18-101
Short title.§ 33-18-110
Share transfer prohibition.§ 33-18-150
Exercise of compulsory purchase right.§ 33-18-160
Court action to compel purchase.§ 33-18-170
Court costs and other expenses.§ 33-18-200
Shareholder agreements.§ 33-18-210
Elimination of board of directors.§ 33-18-220
Bylaws.§ 33-18-230
Annual meeting.