Derivative suits may be maintained on behalf of South Carolina corporations in federal and state court in accordance with the applicable rules of civil procedure.
S.C. Code Ann. § 33-7-400
Procedure in derivative proceedings
Applied in 3 court decisions — leading case Cullen v. McNeal (2010)
Most recently applied in 126 F. Supp. 3d 611 - PCS Nitrogen, Inc. v. Ross Development Corp. (August 2015)
1988 Act No. 444, SECTION 2.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.