Nothing herein contained shall prohibit any council of co-owners from incorporating pursuant to the laws of South Carolina for the purpose of the administration of the property constituted into a horizontal property regime. In the event of such incorporation, the percentage of stock ownership of each co-owner in the corporation shall be equal to the percentage of his right to share in the common elements as computed in accordance with the provisions of this chapter.
S.C. Code Ann. § 27-31-90
Incorporation of co-owners
Known as the Horizontal Property Act
The act spans §§ 27–27 (34 sections).
Applied in 1 court decision — leading case Pines Point Marina v. Rehak (2008)
Most recently applied in Pines Point Marina v. Rehak (December 2008)
1962 Code SECTION 57-502; 1967 (55) 449.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.