South Carolina Statutes
§ 33-45-60 — Payment of subscriptions.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 45 COOPERATIVE ASSOCIATIONS GENERALLY
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 § 33-45-60 (Payment of subscriptions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 12-806; 1952 Code SECTION 12-806; 1942 Code SECTION 8140; 1932 Code SECTION 8140; Civ. C. '22 SECTION 4334; 1915 (29) 235.
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.