South Carolina Statutes
§ 33-18-320 — Effect of termination of statutory close corporation status.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 18 STATUTORY CLOSE CORPORATION SUPPLEMENT
(a)A corporation that terminates its status as a statutory close corporation is subject thereafter to all provisions of Chapters 1 through 17 of this title or, if incorporated under the South Carolina Professional Corporation Supplement (Chapter 19 of this title), to all provisions of that Supplement.
(b)Termination of statutory close corporation status does not affect any right of a shareholder or of the corporation under an agreement or the articles of incorporation unless this chapter, Chapters 1 through 17 of this title, or another law of this State invalidates the right.
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South Carolina § 33-18-320 (Effect of termination of statutory close corporation status.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1988 Act No. 444, SECTION 2.
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.