The business and affairs of the corporation must be managed and conducted by a board of directors, a president and treasurer and those other officers and agents as the corporation by its bylaws shall authorize.
HISTORY: 1962 Code Section 12-1161; 1958 (50) 1886; 2015 Act No. 60 (S.389), Section 1, eff June 4, 2015.
Effect of Amendment
2015 Act No. 60, Section 1, substituted "must be managed" for "shall be managed" and "those other officers and agents" for "such other officers and such agents".
Structure 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 33-37-60. Credit of State is not pledged.
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 33-37-260. 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 33-37-1080. Discontinuance of participation by participating financial institution.