South Carolina § 35-2-104 "Issuing public corporation" defined.

South Carolina Statutes

§ 35-2-104 — "Issuing public corporation" defined.

South Carolina § 35-2-104

Title 35SECURITIES

Ch. 2CONTROL SHARE ACQUISITIONS; BUSINESS COMBINATIONS

This text of South Carolina § 35-2-104 ("Issuing public corporation" defined.) 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. § 35-2-104 (2026).

Text

(a)As used in this article, "issuing public corporation" means a domestic corporation that has either:

(1)a class of voting shares registered with the Securities and Exchange Commission or another federal agency under Section 12 of the 1934 Exchange Act; and (2) its principal place of business, its principal office, or substantial assets within South Carolina; and either:

(A)more than ten percent of its shareholders resident in South Carolina;

(B)more than ten percent of its shares owned by South Carolina residents; or (C) ten thousand shareholders resident in South Carolina.

(b)The residence of a shareholder is presumed to be the address appearing in the records of the corporation.

(c)Shares held by banks (except as trustee or guardian), brokers, or nominees must be disregarded for

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(a) As used in this article, "issuing public corporation" means a domestic corporation that has either: (1) a class of voting shares registered with the Securities and Exchange Commission or another federal agency under Section 12 of the 1934 Exchange Act; and (2) its principal place of business, its principal office, or substantial assets within South Carolina; and either: (A) more than ten percent of its shareholders resident in South Carolina; (B) more than ten percent of its shares owned by South Carolina residents; or (C) ten thousand shareholders resident in South Carolina. (b) The residence of a shareholder is presumed to be the address appearing in the records of the corporation. (c) Shares held by banks (except as trustee or guardian), brokers, or nominees must be disregarded for purposes of calculating the percentages or numbers described in this section.

Legislative History

HISTORY: 1988 Act No. 444, SECTION 5, eff April 22, 1988; 1990 Act No. 446, SECTION 9, eff May 7, 1990. Effect of Amendment The 1990 amendment in subsection (a), item (1), inserted "or another federal agency" and substituted "and" for "or" at the end; deleted the provisions of former items (2) and (3), and renumbered former item (4) as item (2).