South Carolina Code 33-19-220. Share transfer restriction
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(a) A shareholder of a professional corporation may transfer or pledge shares, fractional shares, and rights or options to purchase shares of the corporation only to individuals, general partnerships, and professional corporations qualified under § 33-19-200 to be issued shares.
(b) A transfer of shares made in violation of subsection (a), except one made by operation of law or court judgment, is void.
Terms Used In South Carolina Code 33-19-220
- 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.