South Carolina Code 58-15-240. Fictitious increase of stock or indebtedness shall be void
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Terms Used In South Carolina Code 58-15-240
- 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.
Neither stocks nor bonds shall be issued by any corporation organized under this chapter except for money paid, property delivered or labor done and all fictitious increase of stock or indebtedness shall be void.