All cooperative corporations, associations or companies which were organized and doing business under the corporation statutes of this State or had attempted so to organize and so to do business prior to March 21, 1915 shall have the benefit of all the provisions of this chapter and shall be bound thereby on filing with the Secretary of State a written declaration signed and sworn to by the president and secretary to the effect that such cooperative company or association has, by a majority vote of its stockholders, decided to accept the benefits of, and to be bound by, the provisions of this chapter. No association organized under this chapter shall be required to do or to perform anything not specially required herein in order to become a corporation or to continue its business as such.
HISTORY: 1962 Code Section 12-820; 1952 Code Section 12-820; 1942 Code Section 8148; 1932 Code Section 8148; Civ. C. '22 Section 4342; 1915 (29) 235.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 45 - Cooperative Associations Generally
Section 33-45-10. Definitions.
Section 33-45-20. Restrictions on use of the term "cooperative".
Section 33-45-30. Cooperative associations authorized.
Section 33-45-40. Filing of petition with Secretary of State.
Section 33-45-50. Issuance of commission by Secretary of State.
Section 33-45-60. Payment of subscriptions.
Section 33-45-70. Effect of failure to perform labor or deliver property.
Section 33-45-80. Minimum amount and par value of stock.
Section 33-45-90. Limitation on vote and amount of stock of single stockholder.
Section 33-45-100. Organization and election of directors.
Section 33-45-110. Management of affairs of corporation; removal of directors or officers.
Section 33-45-130. Calls for payment of subscriptions.
Section 33-45-140. Issuance of certificate of charter; recordation.
Section 33-45-145. Amendment of articles of incorporation.
Section 33-45-150. Powers of association.
Section 33-45-160. Investment in other cooperative.
Section 33-45-170. Membership in cotton cooperative.
Section 33-45-180. Apportionment of earnings.
Section 33-45-190. Annual report to Commissioner of Agriculture.
Section 33-45-200. Other associations may accept benefits of chapter.