South Carolina § 58-15-60 - Organization of company.
Full text of South Carolina South Carolina Code of Laws § 58-15-60 — Organization of company., with citation guidance and answers to common questions.
§ 58-15-60. Organization of company.
When not less than fifty per cent of the capital stock shall have been subscribed by bona fide subscribers, in the case of canal, steamboat and street railway companies and when not less than five hundred dollars per mile shall have been subscribed by bona fide subscribers in the case of railroad companies, the board of incorporators shall call the subscribers together and proceed to organize the company, with not less than three nor more than fifteen directors. The election of officers shall be had in all respects as is provided for in the case of industrial corporations organizing under Sections 33-11-30, 33-11-40, and 33-11-200.
HISTORY: 1962 Code SECTION 58-657; 1952 Code SECTION 58-657; 1942 Code SECTION 8182; 1932 Code SECTION 8182; Civ. C. '22 SECTION 4362; Civ. C. '12 SECTION 2876; Civ. C. '02 SECTION 1920; 1899 (23) 64; 1927 (35) 29.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 58-15-60
What does South Carolina Code of Laws § 58-15-60 cover?
Section 58-15-60 ("Organization of company.") 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 § 58-15-60?
A common citation format is "South Carolina Code of Laws § 58-15-60" (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 § 58-15-60 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.