South Carolina Code 58-15-140. Capital stock shall not be issued until price paid; exception
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Terms Used In South Carolina Code 58-15-140
- 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.
No capital stock shall be issued by any corporation organized under this chapter until the subscription price therefor has been fully paid, except when, by the terms of the petition, the capital stock is to be paid for in installments and payment of the deferred portion has been secured.