2013 South Carolina Code of Laws
Title 58 - Public Utilities, Services and Carriers
CHAPTER 15 - RAILROAD, STREET RAILWAY, STEAMBOAT AND CANAL COMPANIES
SECTION 58-15-140. Capital stock shall not be issued until price paid; exception.
No capital stock shall be issued by any corporation organized under this chapter until the subscription price therefor has been fully paid, except when, by the terms of the petition, the capital stock is to be paid for in installments and payment of the deferred portion has been secured.
HISTORY: 1962 Code Section 58-665; 1952 Code Section 58-665; 1942 Code Section 8193; 1932 Code Section 8193; Civ. C. '22 Section 4373; Civ. C. '12 Section 2887; Civ. C. '02 Section 1930; 1899 (23) 68.
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