South Carolina § 33-6-220 - Liability of shareholders.
Full text of South Carolina South Carolina Code of Laws § 33-6-220 — Liability of shareholders., with citation guidance and answers to common questions.
§ 33-6-220. Liability of shareholders.
(a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued (Section 33-6-210) or specified in the subscription agreement (Section 33-6-200).
(b) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that he may become personally liable by reason of his own acts or conduct.
HISTORY: Derived from 1976 Code SECTION 33-11-230 1962 Code SECTION 12-16.23; 1952 Code SECTION 12-72; 1942 Code SECTION 7677; 1932 Code SECTION 7677; Civ. C. '22 SECTION 4251; Civ. C. '12 SECTION 2784; Civ. C. '02 SECTION 1843; R. S. 1500; 1905 (24) 842; 1940 (41) 1636; 1962 (52) 1996; 1963 (53) 327; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 2]; 1988 Act No. 444, SECTION 2.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 33-6-220
What does South Carolina Code of Laws § 33-6-220 cover?
Section 33-6-220 ("Liability of shareholders.") 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 § 33-6-220?
A common citation format is "South Carolina Code of Laws § 33-6-220" (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 § 33-6-220 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.