Statutes, codes, and regulations
Code of Laws of South Carolina 1976
Title 58 - PUBLIC UTILITIES, SERVICES AND CARRIERSChapter 15 - RAILROAD, STREET RAILWAY, STEAMBOAT AND CANAL COMPANIES
Article 1 - INCORPORATION AND ORGANIZATION GENERALLY
Section 58-15-240 - Fictitious increase of stock or indebtedness shall be void

S.C. Code § 58-15-240

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Current through 2024 Act No. 225.
Section 58-15-240 - Fictitious increase of stock or indebtedness shall be void

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.

S.C. Code § 58-15-240

1899 (23) 68; Civ. C. '02 Section 1932; Civ. C. '12 Section 2889; Civ. C. '22 Section 4375; 1932 Code Section 8195; 1942 Code Section 8195; 1952 Code Section 58-682; 1962 Code Section 58-682.