South Carolina § 33-31-1401 Dissolution by incorporators.

South Carolina Statutes

§ 33-31-1401 — Dissolution by incorporators.

South Carolina § 33-31-1401

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 31SOUTH CAROLINA NONPROFIT CORPORATION ACT

This text of South Carolina § 33-31-1401 (Dissolution by incorporators.) 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. § 33-31-1401 (2026).

Text

(a)The incorporators of a corporation that has no members and that does not yet have initial directors, upon written consents signed by a majority of the incorporators, or through a vote of a majority of the incorporators at a meeting of the incorporators, subject to any approval required by the articles or bylaws, may dissolve the corporation by delivering to the Secretary of State articles of dissolution.

(b)The incorporators in approving dissolution shall adopt a plan of dissolution indicating to whom the assets owned or held by the corporation will be distributed after all creditors have been paid.

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(a) The incorporators of a corporation that has no members and that does not yet have initial directors, upon written consents signed by a majority of the incorporators, or through a vote of a majority of the incorporators at a meeting of the incorporators, subject to any approval required by the articles or bylaws, may dissolve the corporation by delivering to the Secretary of State articles of dissolution. (b) The incorporators in approving dissolution shall adopt a plan of dissolution indicating to whom the assets owned or held by the corporation will be distributed after all creditors have been paid.