South Carolina § 33-49-1010 - Dissolution before commencing business.
Full text of South Carolina South Carolina Code of Laws § 33-49-1010 — Dissolution before commencing business., with citation guidance and answers to common questions.
§ 33-49-1010. Dissolution before commencing business.
A cooperative which has not commenced business may dissolve voluntarily by delivering to the Secretary of State articles of dissolution, executed and acknowledged on behalf of the cooperative by a majority of the incorporators, which shall state:
(1) The name of the cooperative;
(2) The address of its principal office;
(3) The date of its incorporation;
(4) That the cooperative has not commenced business;
(5) That the amount, if any, actually paid in on account of membership fees, less any part thereof disbursed for necessary expenses, has been returned to those entitled thereto and that all easements have been released to the grantors;
(6) That no debt of the cooperative remains unpaid; and
(7) That a majority of the incorporators elect that the cooperative be dissolved.
Such articles of dissolution shall be submitted to the Secretary of State for filing as provided in this chapter.
HISTORY: 1962 Code SECTION 12-1056; 1952 Code SECTION 12-1056; 1942 Code SECTION 8555-108; 1939 (41) 240.
Frequently Asked Questions About South Carolina § 33-49-1010
What does South Carolina Code of Laws § 33-49-1010 cover?
Section 33-49-1010 ("Dissolution before commencing business.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 33-49-1010?
A common citation format is "South Carolina Code of Laws § 33-49-1010" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 33-49-1010 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.