South Carolina § 33-15-102 Consequences of transacting business without authority.

South Carolina Statutes

§ 33-15-102 — Consequences of transacting business without authority.

South Carolina § 33-15-102

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 15FOREIGN CORPORATIONS

This text of South Carolina § 33-15-102 (Consequences of transacting business without authority.) 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. § 33-15-102 (2026).

Text

(a)A foreign corporation transacting business in this State without a certificate of authority may not maintain a proceeding in any court in this State until it obtains a certificate of authority.

(b)The successor to a foreign corporation that transacted business in this State without a certificate of authority and the assignee of a cause of action arising out of that business may not maintain a proceeding based on that cause of action in any court in this State until the foreign corporation or its successor obtains a certificate of authority.

(c)A court may stay a proceeding commenced by a foreign corporation, its successor, or assignee until it determines whether the foreign corporation or its successor requires a certificate of authority. If it so determines, the court may further st

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(a) A foreign corporation transacting business in this State without a certificate of authority may not maintain a proceeding in any court in this State until it obtains a certificate of authority. (b) The successor to a foreign corporation that transacted business in this State without a certificate of authority and the assignee of a cause of action arising out of that business may not maintain a proceeding based on that cause of action in any court in this State until the foreign corporation or its successor obtains a certificate of authority. (c) A court may stay a proceeding commenced by a foreign corporation, its successor, or assignee until it determines whether the foreign corporation or its successor requires a certificate of authority. If it so determines, the court may further stay the proceeding until the foreign corporation or its successor obtains the certificate. (d) A foreign corporation is liable for a civil penalty of ten dollars for each day but not to exceed a total of one thousand dollars for each year it transacts business in this State without a certificate of authority. The Attorney General may collect all penalties due under this subsection. (e) Notwithstanding subsections (a) and (b), the failure of a foreign corporation to obtain a certificate of authority does not impair the validity of its corporate acts or prevent it from defending any proceeding in this State.

Legislative History

HISTORY: Derived from 1976 Code SECTION 33-23-140 [1962 Code SECTION 12-23.14; 1962 (52) 1996; Reenacted 1984 Act No. 494, SECTION 1; Repealed, 1988 Act No. 444, SECTION 4(1)]; 1988 Act No. 444, SECTION 2.