South Carolina § 35-2-212 "Preferred stock" defined.

South Carolina Statutes

§ 35-2-212 — "Preferred stock" defined.

South Carolina § 35-2-212

Title 35SECURITIES

Ch. 2CONTROL SHARE ACQUISITIONS; BUSINESS COMBINATIONS

This text of South Carolina § 35-2-212 ("Preferred stock" 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. § 35-2-212 (2026).

Text

As used in this article, "preferred stock" means any class or series of shares of a resident domestic corporation that under the bylaws or articles of incorporation of the resident domestic corporation:

(1)is entitled to receive payment of dividends before any payment of dividends on some other class or series of shares; or (2) is entitled in the event of any voluntary liquidation, dissolution, or winding up of the corporation to receive payment or distribution of a preferential amount before any payments or distributions are received by some other class or series of shares.

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As used in this article, "preferred stock" means any class or series of shares of a resident domestic corporation that under the bylaws or articles of incorporation of the resident domestic corporation: (1) is entitled to receive payment of dividends before any payment of dividends on some other class or series of shares; or (2) is entitled in the event of any voluntary liquidation, dissolution, or winding up of the corporation to receive payment or distribution of a preferential amount before any payments or distributions are received by some other class or series of shares.