South Carolina § 58-17-420 - Charter subject to amendment, alteration or repeal by State.

§ 58-17-420. Charter subject to amendment, alteration or repeal by State.

Any railroad corporation formed under the provisions of this article shall be subject, as to the charter of such corporation, to the provisions of Section 12-401 of the Code of Laws of South Carolina, 1962, any provision in the original charter of the company which owned or held such railroad previous to such sale or any amendment thereto to the contrary notwithstanding.

HISTORY: 1962 Code SECTION 58-912; 1952 Code SECTION 58-912; 1942 Code SECTION 8284; 1932 Code SECTION 8229; Civ. C. '22 SECTION 4793; Civ. C. '12 SECTION 3124; Civ. C. '02 SECTION 2049; 1881 (17) 795.

Editor's Note

Section 12-401 of the Code of Laws of South Carolina, 1962, referred to in this section, was repealed by 1962 Act No. 847 (1962 (52) 1896). Prior to its repeal that section read as follows:

"It shall be deemed a part of the charter of every corporation created under the provisions of any general law and of every charter granted, renewed, or amended by act or joint resolution of the General Assembly, unless such act or joint resolution shall, in express terms, declare the contrary, that such charter and every amendment and renewal thereof shall always remain subject to amendment, alteration or repeal by the General Assembly."