South Carolina Code 33-18-220. Bylaws
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(a) A statutory close corporation need not adopt bylaws if provisions required by law to be contained in bylaws are contained in either the articles of incorporation or a shareholder agreement authorized by § 33-18-200.
(b) If a corporation does not have bylaws when its statutory close corporation status terminates under § 33-18-310, the corporation shall adopt bylaws immediately under § 33-2-106.
Terms Used In South Carolina Code 33-18-220
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.