South Carolina § 33-36-1020 Voluntary dissolution of corporation not-for-profit which has commenced business.

South Carolina Statutes

§ 33-36-1020 — Voluntary dissolution of corporation not-for-profit which has commenced business.

South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 36 CORPORATIONS NOT-FOR-PROFIT FINANCED BY FEDERAL OR STATE LOANS

A corporation not-for-profit which has commenced business may dissolve voluntarily and wind up its affairs in the following manner:

(1)Two-thirds of the board shall adopt a resolution recommending dissolution and directing the submission of the question to a vote at an annual or special meeting of members.

(2)Written or printed notice must be given to each member of record entitled to vote at the meeting within the time and in the manner provided for the giving of notice of meetings of members and must state that the purpose of the meeting is to consider the dissolution.

(3)At the meeting the members may authorize the dissolution and may fix, or authorize the board to fix, its terms and conditions. Each member may vote and the authorization requires the affirmative vote of at least two-

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A corporation not-for-profit which has commenced business may dissolve voluntarily and wind up its affairs in the following manner: (1) Two-thirds of the board shall adopt a resolution recommending dissolution and directing the submission of the question to a vote at an annual or special meeting of members. (2) Written or printed notice must be given to each member of record entitled to vote at the meeting within the time and in the manner provided for the giving of notice of meetings of members and must state that the purpose of the meeting is to consider the dissolution. (3) At the meeting the members may authorize the dissolution and may fix, or authorize the board to fix, its terms and conditions. Each member may vote and the authorization requires the affirmative vote of at least two-thirds of all the members.

South Carolina § 33-36-1020 (Voluntary dissolution of corporation not-for-profit which has commenced business.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.