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2018 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 47 - MARKETING COOPERATIVE ASSOCIATIONS
Section 33-47-640. Limitation on amount of stock held.
Universal Citation: SC Code § 33-47-640 (2018)
No stockholder of a cooperative association shall own more than one half of the issued common stock of the association. And an association, in its bylaws, may limit the amount of common stock which one member may own to any amount less than one twentieth of the issued common stock.
HISTORY: 1962 Code Section 12-944; 1952 Code Section 12-944; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
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