There is a newer version of the South Carolina Code of Laws
2013 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 18 - STATUTORY CLOSE CORPORATION SUPPLEMENT
SECTION 33-18-250. Limited liability.
SC Code § 33-18-250 (2013) What's This?
The failure of a statutory close corporation to observe the usual corporate formalities or requirements relating to the exercise of its corporate powers or management of its business and affairs is not a ground for imposing personal liability on the shareholders for liabilities of the corporation.
HISTORY: 1988 Act No. 444, Section 2.
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