Neither stocks nor bonds shall be issued by any corporation organized under this chapter except for money paid, property delivered or labor done and all fictitious increase of stock or indebtedness shall be void.
S.C. Code Ann. § 58-15-240
Fictitious increase of stock or indebtedness shall be void
1962 Code SECTION 58-682; 1952 Code SECTION 58-682; 1942 Code SECTION 8195; 1932 Code SECTION 8195; 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.