South Carolina § 33-7-270 Greater quorum or voting requirements.

South Carolina Statutes

§ 33-7-270 — Greater quorum or voting requirements.

South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 7 SHAREHOLDERS

(a)The articles of incorporation may provide for a greater quorum or voting requirement for shareholders (or voting groups of shareholders) than is provided for by Chapters 1 through 20 of this Title.

(b)An amendment to the articles of incorporation that adds, changes, or deletes a greater quorum or voting requirement must meet the same quorum requirement and be adopted by the same vote and voting groups required to take action under the quorum and voting requirements then in effect or proposed to be adopted, whichever is greater.

(c)A corporation in existence on the effective date of Chapters 1 through 20 of this Title that has authorized a greater quorum or voting right for shareholders (or voting groups of shareholders) than is provided in Chapters 1 through 20 of this Title solely i

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(a) The articles of incorporation may provide for a greater quorum or voting requirement for shareholders (or voting groups of shareholders) than is provided for by Chapters 1 through 20 of this Title. (b) An amendment to the articles of incorporation that adds, changes, or deletes a greater quorum or voting requirement must meet the same quorum requirement and be adopted by the same vote and voting groups required to take action under the quorum and voting requirements then in effect or proposed to be adopted, whichever is greater. (c) A corporation in existence on the effective date of Chapters 1 through 20 of this Title that has authorized a greater quorum or voting right for shareholders (or voting groups of shareholders) than is provided in Chapters 1 through 20 of this Title solely in its bylaws shall amend its articles of incorporation to meet the requirements of subsection (a) by January 1, 1991, in order for these shareholder voting rights to remain effective beyond that date.

South Carolina § 33-7-270 (Greater quorum or voting requirements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: Derived from 1976 Code SECTION 33-11-80 [1962 Code SECTION 12-16.8; 1952 Code SECTIONS 12-251 to 12-253; 1942 Code SECTIONS 7679, 7680; 1932 Code SECTIONS 7679, 7680; Civ. C. '22 SECTIONS 4253, 4254; Civ. C. '12 SECTIONS 2786, 2787; Civ. C. '02 SECTIONS 1845, 1846; R. S. 1502; 1901 (21) 811; 1962 (52) 1996; 1981 Act No. 146, SECTION 2; Repealed 1988 Act No. 444, SECTION 2], and SECTION 33-11-100 [1962 Code SECTION 12-16.10; 1952 Code SECTIONS 12-251 to 12-253; 1942 Code SECTIONS 7679, 7680; 1932 Code SECTIONS 7679, 7680; Civ. C. '22 SECTIONS 4253, 4254; Civ. C. '12 SECTIONS 2786, 2787; Civ. C. '02 SECTIONS 1845, 1846; R. S. 1502; 1901 (21) 811; 1962 (52) 1996; 1981 Act No. 146, SECTION 2; Repealed 1988 Act No. 444, SECTION 2]; 1988 Act No. 444, SECTION 2.