A railroad corporation may issue common stock in shares having no par value on stating in its declaration and petition the number of such shares to be issued in lieu of the par value thereof and the minimum and maximum amount thereof.
S.C. Code Ann. § 58-15-150
Railroads may issue no par common stock
1962 Code SECTION 58-666; 1952 Code SECTION 58-666; 1942 Code SECTION 8179; 1932 Code SECTION 8179; 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.