South Carolina Statutes
§ 33-45-90 — Limitation on vote and amount of stock of single stockholder.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 45 COOPERATIVE ASSOCIATIONS GENERALLY
No stockholder shall own shares of a greater par value than one fifth of the capital stock of the association or be entitled to more than one vote on any subject arising in the management of the association. Notwithstanding the above provisions of this section, a telephone cooperative association may own a majority or all of the capital stock of another corporation or cooperative association and may cast votes on subjects pertaining to the management of the other corporation or cooperative association in an amount proportionally equal to the number of shares owned therein.
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South Carolina § 33-45-90 (Limitation on vote and amount of stock of single stockholder.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 12-809; 1952 Code SECTION 12-809; 1942 Code SECTION 8141; 1932 Code SECTION 8141; Civ. C. '22 SECTION 4335; 1915 (29) 235; 1983 Act No. 67, SECTION 1.
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.