South Carolina Code 58-17-680. Consolidated corporation shall not acquire greater rights than those of consolidating corporations
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Terms Used In South Carolina Code 58-17-680
- 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 new consolidated corporation coming into existence under this article shall thereby acquire any extraordinary rights, privileges and exemptions not enjoyed by one or more of the companies consolidating under their respective charters.