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2018 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 47 - MARKETING COOPERATIVE ASSOCIATIONS
Section 33-47-470. Payment upon death, withdrawal or expulsion of member.
Universal Citation: SC Code § 33-47-470 (2018)
Upon the death, withdrawal or expulsion of a member, the board of directors of the association shall, within one year, cause to be paid such member of his estate one hundred percent of all amounts due him for any and all raw products which have been delivered by him to the association. All other amounts which might be due for capital stock, certificates of interest, reserves or on account of any other equity credits shall be payable in accordance with the charter or bylaws of the association.
HISTORY: 1962 Code Section 12-937; 1952 Code Section 12-937; 1942 Code Section 6508; 1932 Code Section 6508; Civ. C. '22 Section 3412; 1921 (32) 339; 1935 (39) 163; 1981 Act No. 58, Section 1.
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