South Carolina § 35-2-212 - "Preferred stock" defined.
Full text of South Carolina South Carolina Code of Laws § 35-2-212 — "Preferred stock" defined., with citation guidance and answers to common questions.
§ 35-2-212. "Preferred stock" defined.
As used in this article, "preferred stock" means any class or series of shares of a resident domestic corporation that under the bylaws or articles of incorporation of the resident domestic corporation:
(1) is entitled to receive payment of dividends before any payment of dividends on some other class or series of shares; or
(2) is entitled in the event of any voluntary liquidation, dissolution, or winding up of the corporation to receive payment or distribution of a preferential amount before any payments or distributions are received by some other class or series of shares.
HISTORY: 1988 Act No. 444, SECTION 5, eff April 22, 1988.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 35-2-212
What does South Carolina Code of Laws § 35-2-212 cover?
Section 35-2-212 (""Preferred stock" defined.") 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 § 35-2-212?
A common citation format is "South Carolina Code of Laws § 35-2-212" (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 § 35-2-212 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.