Terms Used In South Carolina Code 39-5-149

  • 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.
A trade association, corporation, or partnership may register an agent for the purposes of being notified when the Governor declares and terminates a state of emergency. A trade association may designate up to three persons to be notified on behalf of the organization’s members. The trade association, corporation, or partnership is responsible for maintaining current information for the designated agent or agents. The Governor’s Office is responsible for notifying the registered agents simultaneous to the declaration and termination of the state of emergency.