South Carolina Code 33-37-280. Subsidiary business entities
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 33-37-280
- Board of directors: means the board of directors of the corporation created pursuant to this chapter. See South Carolina Code 33-37-10
- Corporation: means a South Carolina business development corporation created pursuant to this chapter. See South Carolina Code 33-37-10
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
In addition to the powers conferred on the corporation by § 33-37-250, the corporation may organize and incorporate or create pursuant to this title one or more subsidiary business entities as the board of directors may direct, and these entities shall have all those powers conferred on or permitted to them by this title or, subject to required regulatory approval, Title 34. However, these subsidiary entities are not subject to any restrictions or limitations provided for in this chapter which are applicable to the corporation, except those restrictions and limitations as may be included in the subsidiary entity’s articles of incorporation or other applicable governing documents.