South Carolina Statutes
§ 33-47-610 — Issuance of stock.
South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 47 MARKETING COOPERATIVE ASSOCIATIONS
No association shall issue stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but such retention as security shall not affect the members' right to vote.
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South Carolina § 33-47-610 (Issuance of stock.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 12-941; 1952 Code SECTION 12-941; 1942 Code SECTION 6512; 1932 Code SECTION 6512; Civ. C. '22 SECTION 3416; 1921 (32) 339; 1935 (39) 205.
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.