There is a newer version of the South Carolina Code of Laws
2013 South Carolina Code of Laws
Title 58 - Public Utilities, Services and Carriers
CHAPTER 15 - RAILROAD, STREET RAILWAY, STEAMBOAT AND CANAL COMPANIES
SECTION 58-15-240. Fictitious increase of stock or indebtedness shall be void.
SC Code § 58-15-240 (2013) What's This?
Neither stocks nor bonds shall be issued by any corporation organized under this chapter except for money paid, property delivered or labor done and all fictitious increase of stock or indebtedness shall be void.
HISTORY: 1962 Code Section 58-682; 1952 Code Section 58-682; 1942 Code Section 8195; 1932 Code Section 8195; Civ. C. '22 Section 4375; Civ. C. '12 Section 2889; Civ. C. '02 Section 1932; 1899 (23) 68.
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