South Carolina § 33-18-320 Effect of termination of statutory close corporation status.

South Carolina Statutes

§ 33-18-320 — Effect of termination of statutory close corporation status.

South Carolina § 33-18-320

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 18STATUTORY CLOSE CORPORATION SUPPLEMENT

This text of South Carolina § 33-18-320 (Effect of termination of statutory close corporation status.) 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. § 33-18-320 (2026).

Text

(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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(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.