South Carolina Statutes
§ 33-37-280 — Subsidiary business entities.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 37 BUSINESS DEVELOPMENT CORPORATIONS
In addition to the powers conferred on the corporation by Section 33-37-250, the corporation may organize and incorporate or create pursuant to this title one or more subsidiary business entities as the board of directors may direct, and these entities shall have all those powers conferred on or permitted to them by this title or, subject to required regulatory approval, Title 34. However, these subsidiary entities are not subject to any restrictions or limitations provided for in this chapter which are applicable to the corporation, except those restrictions and limitations as may be included in the subsidiary entity's articles of incorporation or other applicable governing documents.
Free access — add to your briefcase to read the full text and ask questions with AI
South Carolina § 33-37-280 (Subsidiary business entities.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2015 Act No. 60 (S.389), SECTION 1, eff June 4, 2015. ARTICLE 5 Members and Stockholders; Loans to Corporation
Nearby Sections
15
§ 33-37-10
Definitions.§ 33-37-1010
Definitions.§ 33-37-1020
Establishment of program; loan loss reserve.§ 33-37-1090
Audits and annual reports.§ 33-37-1100
Dissolution of loss reserve fund.§ 33-37-20
Deposit of funds.§ 33-37-210
Filing declaration of charter; contents.