All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under this chapter, are jointly and severally liable for all liabilities created while so acting except for any liability to any person who knew or reasonably should have known that there was no incorporation.
S.C. Code Ann. § 33-31-204
Liability for preincorporation transactions
Known as the South Carolina Nonprofit Corporation Act
The act spans §§ 33–33 (186 sections).
1994 Act No. 384, SECTION 1.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.