§ 33-12-101 Sale of assets in regular course of business; mortgage or transfer of assets; approval of shareholders
§ 33-12-102 Sale of assets other than in regular course of business
§ 33-12-103 “Sale” defined
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Terms Used In South Carolina Code > Title 33 > Chapter 12 - Sale of Assets

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • sale: includes a sale, lease, exchange, or other disposition of property and assets of the corporation except a mortgage of or other security interest in the property and assets. See South Carolina Code 33-12-103