Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Section 33-37-10. Definitions. - As used in this chapter: (1) "Corporation" means a South...
Section 33-37-20. Deposit of funds. - The corporation shall not deposit any of its funds in...
Section 33-37-30, 33-37-40. Reserved. - HISTORY: Former 33-37-30, titled Corporation shall not accept deposits, had...
Section 33-37-50. Offices. - The corporation may have offices in those places within or...
Section 33-37-60. Credit of State is not pledged. - Under no circumstances is the credit of the State pledged...
Section 33-37-70. Corporation, its subsidiary, and securities issued thereby exempt from taxes and fees. - The corporation and its subsidiary corporation are not subject to...
Section 33-37-80. Tax credit for nondeductible losses arising from sale or other disposition of securities of corporation. - Any stockholder, member, or other holder of any securities, evidences...
Section 33-37-210. Filing declaration of charter; contents. - Twenty-five or more persons, a majority of whom shall be...
Section 33-37-220. Additional contents of declaration of charter. - The declaration of charter shall state: (a) the amount of...
Section 33-37-230. Charter shall be void unless business begun within three years. - If a corporation organized pursuant to this chapter shall fail...
Section 33-37-240. Calling first meeting; organization; quorum. - The first meeting of the corporation must be called by...
Section 33-37-250. Powers. - In furtherance of the purposes for which the corporation is...
Section 33-37-260. Amendment of charter. - The charter may be amended by the votes of the...
Section 33-37-270. Approval by Secretary of State and filing of articles of amendment. - Within thirty days after any meeting at which an amendment...
Section 33-37-280. Subsidiary business entities. - In addition to the powers conferred on the corporation by...
Section 33-37-410. Who may become members, stockholders or bondholders. - In addition to other persons and notwithstanding any provision of...
Section 33-37-420. Application for membership. - Any financial institution may request membership in the corporation by...
Section 33-37-430. Duration of membership; withdrawal. - Membership in the corporation must be for the duration of...
Section 33-37-440. Powers of stockholders and members. - The stockholders and the members of the corporation shall have...
Section 33-37-450. Voting by stockholders and members. - (A) As to all matters requiring action by the members...
Section 33-37-460. Loans to corporation by members. - Each member of the corporation must make loans to the...
Section 33-37-465. Short-term loans to corporation by members. - A member may make short-term loans to the corporation independently...
Section 33-37-470. Authorization for issuance of new classes of stock. - The board of directors have the power to issue shares...
Section 33-37-610. Management of corporation. - The business and affairs of the corporation must be managed...
Section 33-37-620. Board of directors; membership; powers. - The board of directors shall consist of such number, not...
Section 33-37-630. Election of directors; vacancies. - The board of directors must be elected in the first...
Section 33-37-640. Liability for losses. - Directors and officers are not responsible for losses unless the...
Section 33-37-910. Applicability of the Business Corporation Act. - Chapters 1 through 20 of this title apply to every...
Section 33-37-1010. Definitions. - For purposes of this article: (1) "CAP" means the Capital...
Section 33-37-1020. Establishment of program; loan loss reserve. - (A) Upon appropriation of funds by the General Assembly for...
Section 33-37-1030. Participating financial institution; execution of agreement. - A financial institution desiring to become a participating financial institution...
Section 33-37-1040. Participating financial institutions; functions and duties. - A participating financial institution originating a loan to a small...
Section 33-37-1050. Business Development Corporation; transfers to loss reserve account; reports. - After receipt of the funds and report provided in Section...
Section 33-37-1060. Release of funds to cover losses by participating financial institutions. - If the participating financial institution suffers a loss on a...
Section 33-37-1070. Disposition of earnings and interest on state fund account and loss reserve account. - Earnings or interest from the principal of the state fund...
Section 33-37-1080. Discontinuance of participation by participating financial institution. - If a participating financial institution that elects to discontinue its...
Section 33-37-1090. Audits and annual reports. - An independent certified public accountant, as elected annually by the...
Section 33-37-1100. Dissolution of loss reserve fund. - If a loan is not made by participating financial institutions...