South Carolina Statutes
§ 33-47-470 — Payment upon death, withdrawal or expulsion of member.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 47 MARKETING COOPERATIVE ASSOCIATIONS
Upon the death, withdrawal or expulsion of a member, the board of directors of the association shall, within one year, cause to be paid such member of his estate one hundred percent of all amounts due him for any and all raw products which have been delivered by him to the association. All other amounts which might be due for capital stock, certificates of interest, reserves or on account of any other equity credits shall be payable in accordance with the charter or bylaws of the association.
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Legislative History
HISTORY: 1962 Code SECTION 12-937; 1952 Code SECTION 12-937; 1942 Code SECTION 6508; 1932 Code SECTION 6508; Civ. C. '22 SECTION 3412; 1921 (32) 339; 1935 (39) 163; 1981 Act No. 58, SECTION 1. ARTICLE 7 Stock and Stockholders
Nearby Sections
15
§ 33-47-10
Short title.§ 33-47-110
Annual reports.§ 33-47-1110
Contracts for marketing products.§ 33-47-1120
Damages for breach.§ 33-47-1130
Injunction and specific performance.§ 33-47-1140
Contracts entered into with other associations.§ 33-47-20
Definitions.§ 33-47-210
Articles of incorporation.§ 33-47-230
Powers of association.§ 33-47-240
Amendment of articles of incorporation.