Investments in common stock, preferred stock, debt obligations, or other securities of subsidiaries made pursuant to Section 38-21-30 are not subject to any other investment restrictions or prohibitions contained in this title.
S.C. Code Ann. § 38-21-40
Investments in securities of subsidiaries are not subject to other restrictions
Former 1976 Code SECTION 38-21-40 [1947 (45) 322; 1952 Code SECTION 37-854; 1962 Code SECTION 37-854] recodified as SECTION 38-37-40 by 1987 Act No. 155, SECTION 1; Former 1976 …
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.