No capital stock shall be issued by any corporation organized under this chapter until the subscription price therefor has been fully paid, except when, by the terms of the petition, the capital stock is to be paid for in installments and payment of the deferred portion has been secured.
S.C. Code Ann. § 58-15-140
Capital stock shall not be issued until price paid; exception
1962 Code SECTION 58-665; 1952 Code SECTION 58-665; 1942 Code SECTION 8193; 1932 Code SECTION 8193; Civ
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.