South Carolina § 33-18-410 Ordinary relief.

South Carolina Statutes

§ 33-18-410 — Ordinary relief.

South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 18 STATUTORY CLOSE CORPORATION SUPPLEMENT

(a)If the court finds that any grounds for relief described in Section 33-18-400(a) exist, it may order one or more of the following types of relief:

(1)the performance, prohibition, alteration, or setting aside of any action of the corporation or of its shareholders, directors, or officers of or any other party to the proceeding;

(2)the cancelation or alteration of any provision in the corporation's articles of incorporation or bylaws;

(3)the removal from office of any director or officer;

(4)the appointment of any individual as a director or officer;

(5)an accounting with respect to any matter in dispute;

(6)the appointment of a custodian to manage the business and affairs of the corporation;

(7)the appointment of a provisional director who has all the rights, powers, and duties

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(a) If the court finds that any grounds for relief described in Section 33-18-400(a) exist, it may order one or more of the following types of relief: (1) the performance, prohibition, alteration, or setting aside of any action of the corporation or of its shareholders, directors, or officers of or any other party to the proceeding; (2) the cancelation or alteration of any provision in the corporation's articles of incorporation or bylaws; (3) the removal from office of any director or officer; (4) the appointment of any individual as a director or officer; (5) an accounting with respect to any matter in dispute; (6) the appointment of a custodian to manage the business and affairs of the corporation; (7) the appointment of a provisional director who has all the rights, powers, and duties of an elected director to serve for the term and under the conditions prescribed by the court; (8) the payment of dividends; (9) the award of damages to any aggrieved party. (b) If the court finds that a party to the proceeding acted arbitrarily, vexatiously, or otherwise not in good faith, it may award other parties their reasonable expenses, including counsel fees and the expenses of appraisers or other experts, incurred in the proceeding.

South Carolina § 33-18-410 (Ordinary relief.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Derived from 1976 Code SECTION 33-21-150 [1962 Code SECTION 12-22.15; 1952 Code SECTION 12-651; 1942 Code SECTION 7725; 1932 Code SECTION 7725; 1922 (32) 1026; 1962 (52) 1966, 1963 (53) 327; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 4(1)], and SECTION 33-21-155, [1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 4(1)]; 1988 Act No. 444, SECTION 2.