S.C. Code § 33-7-210

Current through 2024 Act No. 225.
Section 33-7-210 - Voting entitlement of shares
(a) Except as provided in subsections (b) and (c), unless the articles of incorporation provide otherwise, each outstanding share, regardless of class, is entitled to one vote on each matter voted on at a shareholders' meeting.
(b) Absent special circumstances, the shares of a corporation are not entitled to vote if they are owned, directly or indirectly, by a second corporation, domestic or foreign, and the first corporation owns, directly or indirectly, a majority of the shares entitled to vote for directors of the second corporation.
(c) Subsection (b) does not limit the power of a corporation to vote any shares, including its own shares, held by it in a fiduciary capacity.
(d) Redeemable shares are not entitled to vote after notice of redemption is mailed to the holders and a sum sufficient to redeem the shares has been deposited with a bank, trust company, or other financial institution under an irrevocable obligation to pay the holders the redemption price on surrender of the shares.

S.C. Code § 33-7-210

1988 Act No. 444, Section 2; Repealed 1988 Act No. 444, Section 2]; 1981 Act No. 146, Section 2; 1962 (52) 1996; 1901 (21) 811; R. S. 1502; Civ. C. '02 Sections 1845, 1846; Civ. C. '12 Sections 2786, 2787; Civ. C. '22 Sections 4253, 4254; 1932 Code Sections 7679, 7680; 1942 Code Sections 7679, 7680; 1952 Code Sections 12-251 to 12-253; Repealed 1988 Act No. 444, Section 2], and Section 33-11-120 [1962 Code Section 12-16.12; 1981 Act No. 146, Section 2; 1962 (52) 1996; 1901 (21) 811; R. S. 1502; Civ. C. '02 Sections 1845, 1846; Civ. C. '12 Sections 2786, 2787; Civ. C. '22 Sections 4253, 4254; 1932 Code Sections 7679, 7680; 1942 Code Sections 7679, 7680; 1952 Code Sections 12-251 to 12-253; Derived from 1976 Code Section 33-11-110 [1962 Code Section 12-16.11.