South Carolina Code 58-11-250. Radio common carriers shall not permit employees to sell securities of others during employment nor require them to purchase any securities
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 58-11-250
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- corporation: includes all bodies corporate, joint stock companies, or associations, domestic or foreign, their lessees, assignees, trustees, receivers or other successors in interest, having any of the powers or privileges of corporations not possessed by individuals or partnerships. See South Carolina Code 58-11-10
- person: includes all individuals, partnerships or associations other than corporations. See South Carolina Code 58-11-10
- radio common carrier: includes persons and corporations, their lessees, assignees, trustees, receivers, or other successors in interest now or hereafter owning or operating in this State equipment or facilities for the transmission of intelligence by a modulated radio frequency signal, for compensation to the public, including all things incident thereto and related to the operation of radio transmission, but shall not include telephone utilities or services regulated by Articles 1 through 13 of Chapter 9 of Title 58 of the 1976 Code. See South Carolina Code 58-11-10
- securities: means and includes stock, stock certificates, bonds, notes, debentures, or other evidences of indebtedness, and any assumption or guaranty thereof. See South Carolina Code 58-11-10
No radio common carrier shall permit any employee to sell, offer for sale, or solicit the purchase of any security of any other person or corporation during such hours as such employee is engaged to perform any duty of such radio common carrier; nor shall any radio common carrier by any means or device whatsoever require any employee to purchase or contract to purchase any of its securities or those of any other person or corporation; nor shall any radio common carrier require any employee to permit the deduction from his wages or salary of any sum as a payment or to be applied as a payment on any purchase or contract to purchase any securities of such radio common carrier or of any other person or corporation.