South Carolina Code 34-3-240. Other powers of directors
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The directors may:
(1) Appoint all necessary officers and employees of the corporation, fix their compensation and take security for the faithful discharge of their respective duties;
Terms Used In South Carolina Code 34-3-240
- 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.
(2) Prescribe the manner of paying for the stock of the corporation and the transfer thereof; and
(3) Prescribe from time to time such penalties for the nonpayment of subscriptions to the capital stock of the corporation as they may deem proper.