South Carolina Code 31-1-120. Purposes of limited dividend housing corporations
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Terms Used In South Carolina Code 31-1-120
- 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 purposes for which a limited dividend housing corporation is to be formed shall be as follows: To acquire, construct, maintain and operate housing projects when authorized by and subject to the supervision of the director.