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S.C. Code Ann. § 33-10-105

Amendment before issuance of shares

Derived from 1976 Code SECTION 33-15-20 [1962 Code SECTION 12-19.2; 1952 Code SECTIONS 12-401 to 12-404; 1942 Code SECTIONS 7676, 7736, 7741, 7744; 1932 Code SECTIONS 7676, 7736…

(a) If a corporation has not yet issued shares, its board of directors or, if directors have not been named, its incorporators may adopt amendments to the corporation's articles of incorporation by a unanimous vote.

(b) If any amendment permitted by subsection (a) effects a material change in the articles of incorporation, subscribers not assenting to the amendment may rescind their subscriptions without liability, notwithstanding any contrary provision of the subscription agreement or Chapters 1 thru 20 of this title.

Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.