South Carolina Code of Laws
Chapter 2 - Control Share Acquisitions; Business Combinations
Section 35-2-211. "Market value" defined.

As used in this article, "market value", when used in reference to shares or property of any resident domestic corporation, means the following:
(1) In the case of shares, the highest closing sale price of a share during the thirty-day period immediately preceding the date in question on the composite tape for New York Stock Exchange listed shares, or, if the shares are not quoted on the composite tape or not listed on the New York Stock Exchange, on the principal United States securities exchange registered under the Exchange Act on which the shares are listed, or, if the shares are not listed on any such exchange, the highest closing bid quotation with respect to a share during the thirty-day period preceding the date in question on the National Association of Securities Dealers, Inc., Automated Quotations System or any system then in use, or if no such quotation is available, the fair market value on the date in question of a share as determined by the board of directors of the resident domestic corporation in good faith.
(2) In the case of property other than cash or shares, the fair market value of the property on the date in question as determined by the board of directors of the resident domestic corporation in good faith.
HISTORY: 1988 Act No. 444, Section 5, eff April 22, 1988.

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 35 - Securities

Chapter 2 - Control Share Acquisitions; Business Combinations

Section 35-2-101. "Control shares" defined.

Section 35-2-102. "Control share acquisition" defined.

Section 35-2-103. "Interested shares" defined; "Exchange Act" defined.

Section 35-2-104. "Issuing public corporation" defined.

Section 35-2-105. Voting rights under Section 35-2-109.

Section 35-2-106. Acquiring person statement.

Section 35-2-107. Special meeting of shareholders.

Section 35-2-108. Notice of shareholder meeting.

Section 35-2-109. Voting rights of acquired control shares; resolution.

Section 35-2-110. Redemption of acquired control shares.

Section 35-2-111. Dissenters' rights; "fair value" defined.

Section 35-2-201. "Affiliate" defined.

Section 35-2-202. "Announcement date" defined.

Section 35-2-203. "Associate" defined.

Section 35-2-204. "Beneficial owner" defined.

Section 35-2-205. "Business combination" defined.

Section 35-2-206. "Common stock" defined.

Section 35-2-207. "Consummation date" defined.

Section 35-2-208. "Control" defined.

Section 35-2-209. "Exchange Act" defined.

Section 35-2-210. "Interested shareholder" defined.

Section 35-2-211. "Market value" defined.

Section 35-2-212. "Preferred stock" defined.

Section 35-2-213. "Resident domestic corporation" defined.

Section 35-2-214. "Share" defined.

Section 35-2-215. "Share acquisition date" defined.

Section 35-2-216. "Subsidiary" defined.

Section 35-2-217. "Voting shares" defined.

Section 35-2-218. Business combination with interested shareholder within two years of share acquisition date.

Section 35-2-219. Business combination with interested shareholder; requirements.

Section 35-2-220. Amendment of articles of incorporation making corporation subject to this article; application of article.

Section 35-2-221. Election not to be covered by this article; application of article.

Section 35-2-222. Inadvertent interested shareholder; application of article.

Section 35-2-223. Interested shareholder on the effective date of this chapter; application of article.

Section 35-2-224. Applicability to foreign corporations.

Section 35-2-225. Severability.

Section 35-2-226. Conflict of laws with respect to foreign corporations.