The charter may be amended by the votes of the stockholders and the members of the corporation, voting separately by classes, and such amendments shall require approval by the affirmative vote of two thirds of the votes to which the stockholders shall be entitled and two thirds of the votes to which the members shall be entitled; provided, that no amendment of the charter which is inconsistent with the general purposes expressed in this chapter, which authorizes any additional class of capital stock to be issued or which eliminates or curtails the right of the Secretary of State to examine the corporation or the obligation of the corporation to make reports as provided by law shall be made without amendment of this chapter; and provided, further, that no amendment of the charter which increases the obligation of a member to make loans to the corporation, makes any change in the principal amount, interest rate or maturity date or in the security or credit position of any outstanding loan of a member to the corporation, affects a member's right to withdraw from membership as provided in Section 33-39-430 or affects a member's voting rights as provided in Sections 33-39-440 and 33-39-450 shall be made without the consent of each member affected by such amendment.
HISTORY: 1962 Code Section 12-1226; 1960 (51) 1907.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 39 - County Business Development Corporations
Section 33-39-10. Definitions.
Section 33-39-20. Deposit of funds.
Section 33-39-30. Corporation shall not accept deposits.
Section 33-39-40. Establishment and maintenance of surplus.
Section 33-39-50. Credit of county is not pledged.
Section 33-39-60. Corporation and its securities exempt from taxes.
Section 33-39-210. Filing declaration of charter; contents.
Section 33-39-220. Additional contents of declaration of charter.
Section 33-39-230. Charter shall be void unless business begun within three years.
Section 33-39-240. Calling first meeting; organization; quorum.
Section 33-39-260. Amendment of charter.
Section 33-39-270. Approval by Secretary of State and filing of articles of amendment.
Section 33-39-410. Who may become members, stockholders or bondholders.
Section 33-39-420. Application for membership.
Section 33-39-430. Duration of membership; withdrawal.
Section 33-39-440. Powers of stockholders and members.
Section 33-39-450. Voting by stockholders and members.
Section 33-39-460. Loans to corporation by members.
Section 33-39-610. Management of corporation.
Section 33-39-620. Board of directors; membership; powers.