South Carolina Statutes
§ 33-19-140 — Prohibited activities.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 19 PROFESSIONAL CORPORATION SUPPLEMENT
(a)A professional corporation may not render any professional service or engage in any business other than the professional service and business authorized by its articles of incorporation.
(b)Subsection (a) does not prohibit a professional corporation from investing its funds in real estate, mortgages, securities, or any other type of investment.
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South Carolina § 33-19-140 (Prohibited activities.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Derived from 1976 Code SECTION 33-51-50 [1962 Code SECTION 56-1605; 1962 (52) 1911; Repealed, 1988 Act No. 444, SECTION 4(5)]; 1988 Act No. 444, SECTION 2.
Nearby Sections
15
§ 33-19-101
Short title.§ 33-19-102
Application of South Carolina Business Corporation Act and Statutory Close Corporation Supplement.§ 33-19-103
Supplement definitions.§ 33-19-109
Election of professional corporation status.§ 33-19-110
Purposes.§ 33-19-120
General powers.§ 33-19-130
Rendering professional services.§ 33-19-140
Prohibited activities.§ 33-19-150
Corporate name.§ 33-19-200
Issuance of shares.§ 33-19-220
Share transfer restriction.