There is a newer version of the South Carolina Code of Laws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 31 - SOUTH CAROLINA NONPROFIT CORPORATION ACT
SECTION 33-31-1301. Prohibited distributions.
SC Code § 33-31-1301 (2013) What's This?
Except as authorized by Section 33-31-1302, a corporation may not make any distributions.
HISTORY: 1994 Act No. 384, Section 1.
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