Directors and officers shall not be responsible for losses unless the losses shall have been occasioned by the wilful misconduct of such directors and officers.
S.C. Code Ann. § 33-39-640
Liability for losses
1962 Code SECTION 12-1264; 1960 (51) 1907.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.