South Carolina Code of Laws
Chapter 37 - Business Development Corporations
Section 33-37-470. Authorization for issuance of new classes of stock.

The board of directors have the power to issue shares of capital stock of the corporation in the classes, series, and denominations set forth in the charter of the corporation, to the same extent and subject to the same restrictions as are otherwise applicable to business corporations organized under the laws of South Carolina under Chapters 1 through 20 of this title. However, the corporation may not issue shares of any series or class of stock with rights, restrictions, or other attributes which would impair or limit the rights of members under this chapter or impair or limit the rights given to stockholders generally under this chapter.
HISTORY: 1995 Act No. 123, Section 6, eff July 1, 1995; 2015 Act No. 60 (S.389), Section 1, eff June 4, 2015.
Effect of Amendment
2015 Act No. 60, Section 1, reenacted this section with no change.

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 33 - Corporations, Partnerships and Associations

Chapter 37 - Business Development Corporations

Section 33-37-10. Definitions.

Section 33-37-20. Deposit of funds.

Section 33-37-30, 33-37-40. Reserved.

Section 33-37-50. Offices.

Section 33-37-60. Credit of State is not pledged.

Section 33-37-70. Corporation, its subsidiary, and securities issued thereby exempt from taxes and fees.

Section 33-37-80. Tax credit for nondeductible losses arising from sale or other disposition of securities of corporation.

Section 33-37-210. Filing declaration of charter; contents.

Section 33-37-220. Additional contents of declaration of charter.

Section 33-37-230. Charter shall be void unless business begun within three years.

Section 33-37-240. Calling first meeting; organization; quorum.

Section 33-37-250. Powers.

Section 33-37-260. Amendment of charter.

Section 33-37-270. Approval by Secretary of State and filing of articles of amendment.

Section 33-37-280. Subsidiary business entities.

Section 33-37-410. Who may become members, stockholders or bondholders.

Section 33-37-420. Application for membership.

Section 33-37-430. Duration of membership; withdrawal.

Section 33-37-440. Powers of stockholders and members.

Section 33-37-450. Voting by stockholders and members.

Section 33-37-460. Loans to corporation by members.

Section 33-37-465. Short-term loans to corporation by members.

Section 33-37-470. Authorization for issuance of new classes of stock.

Section 33-37-610. Management of corporation.

Section 33-37-620. Board of directors; membership; powers.

Section 33-37-630. Election of directors; vacancies.

Section 33-37-640. Liability for losses.

Section 33-37-910. Applicability of the Business Corporation Act.

Section 33-37-1010. Definitions.

Section 33-37-1020. Establishment of program; loan loss reserve.

Section 33-37-1030. Participating financial institution; execution of agreement.

Section 33-37-1040. Participating financial institutions; functions and duties.

Section 33-37-1050. Business Development Corporation; transfers to loss reserve account; reports.

Section 33-37-1060. Release of funds to cover losses by participating financial institutions.

Section 33-37-1070. Disposition of earnings and interest on state fund account and loss reserve account.

Section 33-37-1080. Discontinuance of participation by participating financial institution.

Section 33-37-1090. Audits and annual reports.

Section 33-37-1100. Dissolution of loss reserve fund.