South Carolina Statutes
§ 46-39-50 — Subscriptions to capital stock of association; how payable.
All subscriptions to the capital stock of any association organized under this chapter shall be payable in money or in labor or property at its money value and shall be listed, the labor or the property and the value thereof to be specified in the list of subscriptions. But no subscription in labor or property shall be received unless such labor or property and the value thereof, so to be specified as aforesaid, be approved by the board of incorporators.
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South Carolina § 46-39-50 (Subscriptions to capital stock of association; how payable.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 3-705; 1962 (52) 2222.
Nearby Sections
15
§ 46-39-10
Definitions.§ 46-39-110
Officers; election; bond.§ 46-39-120
Call for payment of subscriptions.§ 46-39-140
Powers of association.§ 46-39-150
Dissolution of association.