South Carolina Statutes
§ 33-45-100 — Organization and election of directors.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 45 COOPERATIVE ASSOCIATIONS GENERALLY
When not less than fifty per cent of the proposed capital stock shall have been subscribed by bona fide subscribers the board of incorporators shall call all the subscribers together. At such meeting of the subscribers, if a majority of them shall be present in person or by proxy, the subscribers shall proceed to the organization of the association by the election from themselves of a board of directors not less than five nor more than nine in number, each subscriber having one vote and no more.
Free access — add to your briefcase to read the full text and ask questions with AI
South Carolina § 33-45-100 (Organization and election of directors.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 12-810; 1952 Code SECTION 12-810; 1942 Code SECTION 8142; 1932 Code SECTION 8142; Civ. C. '22 SECTION 4336; 1915 (29) 235; 1938 (40) 1665.
Nearby Sections
15
§ 33-45-10
Definitions.§ 33-45-100
Organization and election of directors.§ 33-45-120
Officers.§ 33-45-130
Calls for payment of subscriptions.§ 33-45-145
Amendment of articles of incorporation.§ 33-45-150
Powers of association.§ 33-45-160
Investment in other cooperative.§ 33-45-170
Membership in cotton cooperative.§ 33-45-180
Apportionment of earnings.§ 33-45-30
Cooperative associations authorized.