South Carolina § 33-37-470 Authorization for issuance of new classes of stock.

South Carolina Statutes

§ 33-37-470 — Authorization for issuance of new classes of stock.

South Carolina § 33-37-470

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 37BUSINESS DEVELOPMENT CORPORATIONS

This text of South Carolina § 33-37-470 (Authorization for issuance of new classes of stock.) 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. § 33-37-470 (2026).

Text

The board of directors have the power to issue shares of capital stock of the corporation in the classes, series, and denominations set forth in the charter of the corporation, to the same extent and subject to the same restrictions as are otherwise applicable to business corporations organized under the laws of South Carolina under Chapters 1 through 20 of this title. However, the corporation may not issue shares of any series or class of stock with rights, restrictions, or other attributes which would impair or limit the rights of members under this chapter or impair or limit the rights given to stockholders generally under this chapter.

Free access — add to your briefcase to read the full text and ask questions with AI

The board of directors have the power to issue shares of capital stock of the corporation in the classes, series, and denominations set forth in the charter of the corporation, to the same extent and subject to the same restrictions as are otherwise applicable to business corporations organized under the laws of South Carolina under Chapters 1 through 20 of this title. However, the corporation may not issue shares of any series or class of stock with rights, restrictions, or other attributes which would impair or limit the rights of members under this chapter or impair or limit the rights given to stockholders generally under this chapter.

Legislative History

HISTORY: 1995 Act No. 123, SECTION 6, eff July 1, 1995; 2015 Act No. 60 (S.389), SECTION 1, eff June 4, 2015. Effect of Amendment 2015 Act No. 60, SECTION 1, reenacted this section with no change. ARTICLE 7 Directors and Officers