S.C. Code § 33-47-610

Current through 2024 Act No. 225.

Section 33-47-610 - Issuance of stock

No association shall issue stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but such retention as security shall not affect the members' right to vote.

S.C. Code § 33-47-610

1935 (39) 205; 1921 (32) 339; Civ. C. '22 Section 3416; 1932 Code Section 6512; 1942 Code Section 6512; 1952 Code Section 12-941; 1962 Code Section 12-941.