(A) This chapter applies to all benefit corporations.
(B) The provisions contained in Chapters 1-19 of this title apply to benefit corporations except where those provisions conflict with provisions contained in this chapter, in which case the provisions contained in this chapter control.
(C) Other than as provided in Section 33-38-210, corporations that are not benefit corporations are not subject to this chapter, and this chapter does not otherwise affect a statute or rule of law that is applicable to a corporation that is not a benefit corporation. A benefit corporation may be simultaneously subject to this chapter and one or more other statutes that provide for the incorporation of a specific type of business corporation, including, but not limited to, a statutory close corporation or a professional corporation.
(D) A provision of the articles of incorporation or bylaws of a benefit corporation may not be inconsistent with a provision of this chapter.
(E) The formation of a business entity pursuant to provisions other than Title 33, Chapter 38 does not prohibit the business entity from including in its general powers consideration or donations for the public welfare, or for charitable, scientific, or educational purposes, as provided in the South Carolina Business Corporation Act.
HISTORY: 2012 Act No. 277, Section 1, eff June 14, 2012.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 38 - South Carolina Benefit Corporation Act
Section 33-38-110. Short title.
Section 33-38-120. Application of chapter; exemptions.
Section 33-38-130. Definitions.
Section 33-38-140. No entitlement to property tax exemptions.
Section 33-38-200. Incorporation as a benefit corporation.
Section 33-38-220. Termination of status as benefit corporation.
Section 33-38-230. Approval of corporate matters.
Section 33-38-300. Corporate purposes for benefit corporations.
Section 33-38-400. Accountability for benefit corporation.
Section 33-38-410. Powers and duties of benefit director.
Section 33-38-420. Officer liability for benefit corporation.
Section 33-38-430. Duties of benefit officer.
Section 33-38-440. Benefit enforcement proceedings.
Section 33-38-500. Annual benefit report.
Section 33-38-600. Shareholder dissent and payment for shares.