§ 35-2-220 — Amendment of articles of incorporation making corporation subject to this article; application of article.

South Carolina § 35-2-220

• Jurisdiction: South Carolina
• Title 35: SECURITIES
• Ch. 2: CONTROL SHARE ACQUISITIONS; BUSINESS COMBINATIONS

Text

This article does not apply to any business combination of a resident domestic corporation of which the articles of incorporation have been amended to provide that the resident domestic corporation is not subject to this article, and is a business combination with an interested shareholder whose share acquisition date is before the effective date of the amendment.

Legislative History

HISTORY: 1988 Act No. 444, SECTION 5, eff April 22, 1988. Editor's Note 1988 Act No. 444 SECTION 6 provides as follows: "For purposes of this act, when the terms 'effective date of this chapter' or 'effective date of this article' or similar derivations thereof are used in Chapter 2, Title 35 of the 1976 Code, as contained in Section 5 of this act, these terms must be construed to mean the effective date of the amendments to Chapter 2 of Title 35 as contained in this act."