South Carolina Statutes
§ 33-31-622 — Purchase of memberships.
South Carolina § 33-31-622
JurisdictionSouth Carolina
Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
Ch. 31SOUTH CAROLINA NONPROFIT CORPORATION ACT
This text of South Carolina § 33-31-622 (Purchase of memberships.) 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. § 33-31-622 (2026).
Text
(a)A public benefit or religious corporation may not purchase any of its memberships or any right arising therefrom.
(b)A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its articles or bylaws. No payment shall be made in violation of Article 13.
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Legislative History
HISTORY: 1994 Act No. 384, SECTION 1. Subarticle D Derivative Suits
Nearby Sections
15
§ 33-31-1001
Authority to amend articles of incorporation.§ 33-31-1002
Amendment of articles by directors.§ 33-31-1003
Amendment of articles by directors and members.§ 33-31-1004
Class voting by members on amendments.§ 33-31-1005
Articles of amendment.§ 33-31-1006
Restated articles of incorporation.§ 33-31-1007
Amendment pursuant to judicial reorganization.§ 33-31-1008
Effect of amendment and restatement.§ 33-31-101
Short title.§ 33-31-102
Reservation of power to amend or repeal.§ 33-31-1020
Amendment of bylaws by directors.§ 33-31-1022
Class voting on bylaw amendment by members.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 33-31-622, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/31/33-31-622.