South Carolina Code 33-31-1433. Decree of dissolution
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(a) If after a hearing the court determines that one or more grounds for judicial dissolution described in § 33-31-1430 exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution, or may order any other form of relief which it deems proper in the circumstances, and the clerk of the court shall deliver a certified copy of the decree to the Secretary of State, who shall file it without charging a fee.
(b) After entering the decree of dissolution, the court shall direct the winding up and liquidation of the corporation’s affairs in accordance with § 33-31-1406 and the notification of its claimants in accordance with §§ 33-31-1407 and 33-31-1408.
Terms Used In South Carolina Code 33-31-1433
- 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.