There is a newer version of the South Carolina Code of Laws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 33-31-1621. Report of indemnification to members.
SC Code § 33-31-1621 (2013) What's This?
If a corporation indemnifies or advances expenses to a director under Section 33-31-851, 33-31-852, 33-31-853, or 33-31-854 in connection with a proceeding by or in the right of the corporation, the corporation shall report the indemnification or advance in writing to the members with or before the notice of the next meeting of members.
HISTORY: 1994 Act No. 384, Section 1.
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