South Carolina Proposed Amendments to the Articles of Incorporation to increase shares with exhibit
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FAQ
South Carolina Business Corporation Act of 1988 defines a Corporation or Domestic Corporation as a corporation incorporated for profit and not a foreign corporation. Any person may act as the incorporator of a corporation by delivering articles of incorporation to the Secretary of State for filing.
In other words, the theory posits that it is an act of the state, i.e. the issuance of the charter, that creates a corporation as a legal fiction. ingly, ?a corporation is an artificial being, invisible, intangible, and existing only in contemplation of law?.
DEFINITION: A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.
It is called a legal person because it can enter into a contract, own property in its own name, sue and be sued by others, etc. In essence, it is not human, but it acts through human beings. It is called an artificial person because it is invisible, intangible, and exists only in the vision of the law.
Notices to the Attorney General. (a) A nonprofit organization shall give the Attorney General written notice that it intends to dissolve at or before the time it delivers articles of dissolution to the Secretary of State. The notice shall include a copy or summary of the plan of dissolution.
(a) Unless prohibited or limited by the articles or bylaws, any action that may be taken at any annual, regular, or special meeting of members may be taken without a meeting if the corporation delivers a written or electronic ballot to every member entitled to vote on the matter.
Definition of Corporation It is an artificial being, created operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incident to its existence.