All subscriptions to the capital stock of any association organized under this chapter shall be payable in money or in labor or property at its money value and shall be listed, the labor or the property and the value thereof to be specified in the list of subscriptions. But no subscription in labor or property shall be received unless such labor or property and the value thereof, so to be specified as aforesaid, be approved by the board of incorporators.
HISTORY: 1962 Code Section 3-705; 1962 (52) 2222.
Structure South Carolina Code of Laws
Chapter 39 - Farmers' Associations
Section 46-39-10. Definitions.
Section 46-39-20. Cooperative association of farmers may be formed.
Section 46-39-30. Filing and contents of petition for incorporation.
Section 46-39-40. Commission of board of incorporators; opening books of subscriptions.
Section 46-39-50. Subscriptions to capital stock of association; how payable.
Section 46-39-70. Minimum limitation on amount of capital stock; par value.
Section 46-39-80. Limitation on number of shares owned; one vote per share.
Section 46-39-90. Meeting of subscribers; election of directors; votes of subscribers.
Section 46-39-100. Duties of directors; terms; removal; vacancies.
Section 46-39-110. Officers; election; bond.
Section 46-39-120. Call for payment of subscriptions.
Section 46-39-140. Powers of association.
Section 46-39-150. Dissolution of association.
Section 46-39-160. Certified copy of charter as evidence of incorporation.
Section 46-39-170. Secretary of State to file and index charters and amendments.