South Carolina Code 33-37-620. Board of directors; membership; powers
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Terms Used In South Carolina Code 33-37-620
- 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.
The board of directors shall consist of such number, not more than twenty-one, as must be determined in the first instance by the incorporators and thereafter annually by the members and the stockholders of the corporation. The board of directors may exercise all the powers of the corporation except those as are conferred by law or by the bylaws of the corporation upon the stockholders or members and shall choose and appoint all the agents and officers of the corporation and fill all vacancies except vacancies in the office of director, which must be filled as provided in § 33-37-630. The board of directors must be elected as provided in § 33-37-630.