South Carolina Statutes
§ 33-19-220 — Share transfer restriction.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 19 PROFESSIONAL CORPORATION SUPPLEMENT
(a)A shareholder of a professional corporation may transfer or pledge shares, fractional shares, and rights or options to purchase shares of the corporation only to individuals, general partnerships, and professional corporations qualified under Section 33-19-200 to be issued shares.
(b)A transfer of shares made in violation of subsection (a), except one made by operation of law or court judgment, is void.
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South Carolina § 33-19-220 (Share transfer restriction.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Derived from 1976 Code SECTION 33-51-140 [1962 Code SECTION 56-1614; 1962 (52) 1911; Repealed, 1988 Act No. 444, SECTION 4(5)]; 1988 Act No. 444, SECTION 2.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.