South Carolina § 33-15-101 Authority to transact business required.

South Carolina Statutes

§ 33-15-101 — Authority to transact business required.

South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 15 FOREIGN CORPORATIONS

(a)A foreign corporation may not transact business in this State until it obtains a certificate of authority from the Secretary of State.

(b)The following activities, among others, do not constitute transacting business within the meaning of subsection (a):

(1)maintaining, defending, or settling a proceeding;

(2)holding meetings of the board of directors or shareholders or carrying on other activities concerning internal corporate affairs;

(3)maintaining bank accounts;

(4)maintaining offices or agencies for the transfer, exchange, and registration of the corporation's own securities or maintaining trustees or depositories with respect to those securities;

(5)selling through independent contractors;

(6)soliciting or obtaining orders, whether by mail or through employees or agents or

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(a) A foreign corporation may not transact business in this State until it obtains a certificate of authority from the Secretary of State. (b) The following activities, among others, do not constitute transacting business within the meaning of subsection (a): (1) maintaining, defending, or settling a proceeding; (2) holding meetings of the board of directors or shareholders or carrying on other activities concerning internal corporate affairs; (3) maintaining bank accounts; (4) maintaining offices or agencies for the transfer, exchange, and registration of the corporation's own securities or maintaining trustees or depositories with respect to those securities; (5) selling through independent contractors; (6) soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this State before they become contracts; (7) creating or acquiring any indebtedness, mortgages, and security interests in real or personal property; (8) securing or collecting debts or enforcing mortgages, security interests, or other rights in property securing debts; (9) owning, without more, real or personal property; (10) conducting an isolated transaction that is completed within thirty days and that is not one in the course of repeated transactions of a like nature; (11) transacting business in interstate commerce; (12) owning and controlling a subsidiary corporation incorporated in or transacting business within this State; or (13) owning, without more, an interest in a limited liability company organized or transacting business in this State. (c) The list of activities in subsection (b) is not exhaustive.

South Carolina § 33-15-101 (Authority to transact business required.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Derived from 1976 Code SECTION 33-23-10 [1962 Code SECTION 12-23.1; 1952 Code SECTION 12-701; 1942 Code SECTION 7764; 1932 Code SECTION 7764; Civ. C. '22 SECTION 4028; Civ. C. '12 SECTION 2664; Civ. C. '02 SECTION 1779; R. S. 1465; 1893 (21) 409; 1904 (24) 436; 1962 (52) 1996; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 4(1)]; 1988 Act No. 444, SECTION 2; 1990 Act No. 446, SECTION 12004 Act No. 221, SECTION 21.