South Carolina Code 16-3-2030. Criminal liability of principal owners of business; loss of profits and government contracts; penalties
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(A) The principal owners of a business, a business entity, including a corporation, partnership, charitable organization, or another legal entity, that knowingly aids or participates in an offense provided in this article is criminally liable for the offense and will be subject to a fine or loss of business license in the State, or both. In addition, the court may consider disgorgement of profit from activity in violation of this article and disbarment from state and local government contracts.
(B) If the principal owners of a business entity are convicted of violating a section of this article, the court or Secretary of State, when appropriate, may:
Terms Used In South Carolina Code 16-3-2030
- Business: means a corporation, partnership, proprietorship, firm, enterprise, franchise, organization, or self-employed individual. See South Carolina Code 16-3-2010
- Charitable organization: means a charitable organization pursuant to § 33-56-20. See South Carolina Code 16-3-2010
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(1) order its dissolution or reorganization;
(2) order the suspension or revocation of any license, permit, or prior approval granted to it by a state or local government agency; or
(3) order the surrender of its charter if it is organized under state law or the revocation of its certificate to conduct business in the State if it is not organized under state law.