reglab/statecodes huggingface dataset:
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-260. Fees.

For filing articles of incorporation an association organized hereunder shall pay ten dollars, and for filing an amendment to such articles, two dollars and fifty cents.
HISTORY: 1962 Code Section 12-926; 1952 Code Section 12-926; 1942 Code Section 6527; 1932 Code Section 6527; Civ. C. '22 Section 3431; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-410. Membership.

Under the terms and conditions prescribed in its bylaws an association may admit as members or issue common stock only to persons engaged in the production of the agricultural products to be handled by or through the association, including the lessees and tenants of land used for the production of such products and any lessors and landlords who receive as rent part of the crop raised on the leased premises.
HISTORY: 1962 Code Section 12-931; 1952 Code Section 12-931; 1942 Code Section 6505; 1932 Code Section 6505; Civ. C. '22 Section 3409; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-420. Associations as members.

One association organized hereunder may become a member or stockholder of any other association or associations organized hereunder.
HISTORY: 1962 Code Section 12-932; 1952 Code Section 12-932; 1942 Code Section 6505; 1932 Code Section 6505; Civ. C. '22 Section 3409; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-430. Certificate of membership.

When a member of an association established without capital stock has paid his membership fee in full he shall receive a certificate of membership.
HISTORY: 1962 Code Section 12-933; 1952 Code Section 12-933; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-440. Admission of new members.

The association may admit new members who shall be entitled to share in the property of the association with the old members, in accordance with such general rule or rules as may be prescribed in the articles of incorporation.
HISTORY: 1962 Code Section 12-934; 1952 Code Section 12-934; 1942 Code Section 6506; 1932 Code Section 6506; Civ. C. '22 Section 3410; 1921 (32) 339; 1935 (39) 163.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-450. Representation of members other than natural persons.

If a member of a nonstock association be other than a natural person, such member may be represented by an individual, associate, officer or member thereof duly authorized in writing.
HISTORY: 1962 Code Section 12-935; 1952 Code Section 12-935; 1942 Code Section 6505; 1932 Code Section 6505; Civ. C. '22 Section 3409; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-460. Limitation on business with nonmembers.

No association organized under this chapter shall, during any fiscal year thereof, deal in or handle products, machinery, equipment and supplies and perform services for and on behalf of nonmembers to an amount greater in value than such as are dealt in, handled and performed by it for and on behalf of members during the same period.
HISTORY: 1962 Code Section 12-936; 1952 Code Section 12-936; 1942 Code Section 6504; 1932 Code Section 6504; Civ. C. '22 Section 3408; 1921 (32) 339; 1934 (38) 1497; 1935 (39) 163.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-470. Payment upon death, withdrawal or expulsion of member.

Upon the death, withdrawal or expulsion of a member, the board of directors of the association shall, within one year, cause to be paid such member of his estate one hundred percent of all amounts due him for any and all raw products which have been delivered by him to the association. All other amounts which might be due for capital stock, certificates of interest, reserves or on account of any other equity credits shall be payable in accordance with the charter or bylaws of the association.
HISTORY: 1962 Code Section 12-937; 1952 Code Section 12-937; 1942 Code Section 6508; 1932 Code Section 6508; Civ. C. '22 Section 3412; 1921 (32) 339; 1935 (39) 163; 1981 Act No. 58, Section 1.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-610. Issuance of stock.

No association shall issue stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but such retention as security shall not affect the members' right to vote.
HISTORY: 1962 Code Section 12-941; 1952 Code Section 12-941; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-620. Preferred stock.

Any association organized with stock under this chapter may issue preferred stock, with or without the right to vote. Such stock may be redeemable or retirable by the association on such term and conditions as may be provided for by the articles of incorporation and printed on the face of the certificate.
HISTORY: 1962 Code Section 12-942; 1952 Code Section 12-942; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-630. Issuance of preferred stock for property purchased.

Whenever an association organized hereunder with preferred stock shall purchase any stock or any property, or any interest in any property, it may discharge the obligations so incurred, wholly or in part, by exchanging for the acquired interest shares of its preferred capital stock to an amount which at par value would equal the fair market value of the stock, property or interest so purchased, as determined by the board of directors. In that case the transfer to the association of the stock, property or interest purchased shall be equivalent to payment in cash for the shares of stock issued.
HISTORY: 1962 Code Section 12-943; 1952 Code Section 12-943; 1942 Code Section 6516; 1932 Code Section 6516; Civ. C. '22 Section 3420; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-640. Limitation on amount of stock held.

No stockholder of a cooperative association shall own more than one half of the issued common stock of the association. And an association, in its bylaws, may limit the amount of common stock which one member may own to any amount less than one twentieth of the issued common stock.
HISTORY: 1962 Code Section 12-944; 1952 Code Section 12-944; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-650. Limitation on transfer of common stock.

The bylaws shall prohibit the transfer of the common stock of the association to persons not engaged in the production of the agricultural products handled by the association and such restrictions must be printed upon every certificate of stock subject thereto.
HISTORY: 1962 Code Section 12-945; 1952 Code Section 12-945; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-660. Purchase of its common stock by association.

The association may, at any time, except when the debts of the association exceed fifty per cent of the assets thereof, buy in or purchase its common stock at the book value thereof as conclusively determined by the board of directors and pay for it in cash within one year thereafter.
HISTORY: 1962 Code Section 12-946; 1952 Code Section 12-946; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-670. Stockholder's liability.

Except for debts lawfully contracted between him and the association no member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on his membership fee or his subscription to the capital stock, including any unpaid balance on any promissory notes given in payment thereof.
HISTORY: 1962 Code Section 12-947; 1952 Code Section 12-947; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-810. Bylaws.

Each association incorporated under this chapter must, within thirty days after its incorporation, adopt for its government and management a code of bylaws, not inconsistent with the powers granted by this chapter. A majority vote of a quorum of the members or stockholders attending a meeting, prior to which notice of the proposed bylaw or bylaws shall have been given, is sufficient to adopt or amend the bylaws. Each association under its bylaws may also provide for any or all of the following matters:
(1) The time, place and manner of calling and conducting its meetings;
(2) The number of stockholders or members constituting a quorum;
(3) The rights of members or stockholders to vote by proxy or by mail or both and the conditions, manner, form and effects of such votes;
(4) The number of directors constituting a quorum;
(5) The qualifications, compensation, duties and terms of office of directors and officers, the time of their election and the mode and manner of giving notice thereof;
(6) Penalties for violation of the bylaws;
(7) The amount of entrance, organization and membership fees, if any, the manner and method of collection of the same and the purposes for which they may be used;
(8) The amount which each member or stockholder shall be required to pay annually or from time to time, if at all, to carry on the business of the association;
(9) The charge, if any, to be paid by each member or stockholder for services rendered by the association to him, the time of payment and the manner of collection;
(10) The marketing contract between the association and its members or stockholders which every member or stockholder may be required to sign;
(11) The number and qualification of members or stockholders of the association and the conditions precedent to membership or ownership of common stock;
(12) The method, time and manner of permitting members to withdraw or the holders of common stock to transfer their stock;
(13) The manner of assignment and transfer of the interest of members and of the shares of common stock and the conditions upon which and time when membership of any member shall cease;
(14) The automatic suspension of the rights of a member when he ceases to be eligible for membership in the association and the mode, manner and effect of the expulsion of a member; and
(15) The manner of determining the value of a member's interest and provision for its purchase by the association upon the death or withdrawal of a member or stockholder or upon the expulsion of a member or forfeiture of his membership or, at the option of the association, by conclusive appraisal by the board of directors.
HISTORY: 1962 Code Section 12-951; 1952 Code Section 12-951; 1942 Code Section 6508; 1932 Code Section 6508; Civ. C. '22 Section 3412; 1921 (32) 339; 1935 (39) 163.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-820. Meetings of association.

In its bylaws each association shall provide for one or more regular meetings annually. The board of directors shall have the right to call a special meeting at any time and ten per cent of the members or stockholders may file a petition stating the specific business to be brought before the association and demand a special meeting at any time. Such meeting must thereupon be called by the directors. Notice of all meetings, together with a statement of the purposes thereof, shall be mailed to each member at least ten days prior to the meeting. But the bylaws may require instead that such notice may be given by publication in a newspaper of general circulation published at the principal place of business of the association.
HISTORY: 1962 Code Section 12-952; 1952 Code Section 12-952; 1942 Code Section 6509; 1932 Code Section 6509; Civ. C. '22 Section 3413; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-830. Matters which must be referred to members.

Upon demand of one third of the entire board of directors any matter that has been approved or passed by the board must be referred to the entire membership or the stockholders for decision at the next special or regular meeting. A special meeting may be called for this purpose.
HISTORY: 1962 Code Section 12-953; 1952 Code Section 12-953; 1942 Code Section 6514; 1932 Code Section 6514; Civ. C. '22 Section 3418; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-840. Voting.

There shall be three methods of voting, each organization determining and stating in its bylaws which one of the methods of voting outlined herein shall be used. First, each owner of common stock may be allowed to vote his holdings of common stock, provided, however, that he shall not have a vote exceeding that which corresponds to twenty per cent of the total stock issued and outstanding by the organization; or second, any cooperative association may allow its members to vote according to their volume of business in proportion to the total volume transacted by each member through or with the organization during the fiscal year immediately preceding the annual or special meeting at which the vote shall be taken and each organization may determine the unit of volume which shall be used as a basis of computing the votes, such volume to be calculated as a basis of voting by units or value which each organization may determine in its bylaws; or, third, each member or common stockholder may be entitled to one vote.
HISTORY: 1962 Code Section 12-954; 1952 Code Section 12-954; 1942 Code Section 6512; 1932 Code Section 6512; Civ. C. '22 Section 3416; 1921 (32) 339; 1935 (39) 205.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-910. Directors.

The affairs of the association shall be managed by a board of not less than five directors elected by the members or stockholders from their own number. The bylaws may provide that the territory in which the association has members shall be divided into districts and that the directors shall be elected according to such districts. In such a case the bylaws shall specify the number of directors to be elected by each district and the manner and method of reapportioning the directors and of redistricting the territory covered by the association. The bylaws may provide that primary elections should be held in each district to elect the directors apportioned to such districts and that the result of all such primary elections must be ratified by the next meeting of the association. The bylaws may provide that one or more directors may be appointed by the director of the extension service of Clemson University. The director or directors so appointed need not be members or stockholders of the association but shall have the same powers and rights as other directors.
HISTORY: 1962 Code Section 12-961; 1952 Code Section 12-961; 1942 Code Section 6510; 1932 Code Section 6510; Civ. C. '22 Section 3414; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-920. Vacancies on board of directors.

When a vacancy on the board of directors occurs, other than by expiration of term, the remaining members of the board by a majority vote shall fill the vacancy unless the bylaws provide for an election of directors by districts. In such a case the board of directors shall immediately call a special meeting of the members or stockholders in that district to fill the vacancy.
HISTORY: 1962 Code Section 12-962; 1952 Code Section 12-962; 1942 Code Section 6510; 1932 Code Section 6510; Civ. C. '22 Section 3414; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-930. Remuneration; contracts with association.

An association may provide a fair remuneration for the time actually spent by its officers and directors in its service. No director during the term of his office shall be a party to a contract for profit with the association differing in any way from the business relations accorded regular members or holders of common stock of the association or to any other kind of contract differing from terms generally current in that district.
HISTORY: 1962 Code Section 12-963; 1952 Code Section 12-963; 1942 Code Section 6510; 1932 Code Section 6510; Civ. C. '22 Section 3414; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-940. Officers.

The directors shall elect from their number a president and one or more vice-presidents. They shall also elect a secretary and treasurer who need not be directors and they may combine the two latter officers and designate the combined office as secretary-treasurer. The treasurer, who shall be a bonded official, may be a bank or any depository and as such shall not be considered as an officer but as a function of the board of directors. In such case the secretary shall perform the usual accounting duties of the treasurer except that the funds shall be deposited only as authorized by the board of directors.
HISTORY: 1962 Code Section 12-964; 1952 Code Section 12-964; 1942 Code Section 6511; 1932 Code Section 6511; Civ. C. '22 Section 3415; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-950. Removal of officers or directors.

Any member may bring charges against an officer or director by filing them in writing with the secretary of the association, together with a petition signed by ten per cent of the members requesting the removal of the officer or director in question. The removal shall be voted upon at the next regular or special meeting of the association and, by vote of a majority of the members, the association may remove the officer or director and fill the vacancy. The director or officer against whom such charges have been brought shall be informed in writing of the charges previous to the meeting and shall have an opportunity at the meeting to be heard in person or by counsel and to present witnesses and the person bringing the charges against him shall have the same opportunity.
In case the bylaws provide for the election of directors by districts with primary elections in each district then the petition for removal of a director must be signed by twenty per cent of the members residing in the district from which he was elected. The board of directors shall call a special meeting of the members residing in that district to consider the removal of the director. By a vote of the majority of the members of that district the director in question may be removed from office.
HISTORY: 1962 Code Section 12-965; 1952 Code Section 12-965; 1942 Code Section 6513; 1932 Code Section 6513; Civ. C. '22 Section 3417; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-1110. Contracts for marketing products.

The association and its members may make and execute marketing contracts requiring the members to sell, for any period of time not over ten years, all or any specified part of their agricultural products or specified commodities exclusively to or through the association or any facilities to be created by the association. The contract may provide that the association may sell or resell the products of its members, with or without taking title thereto, and pay over to its members the resale price after deducting all necessary selling, overhead and other costs and expenses, including dividends on preferred stock, not exceeding eight per cent per annum, reserves for retiring the stock, if any, other proper reserves and dividends not exceeding eight per cent per annum upon common stock.
HISTORY: 1962 Code Section 12-971; 1952 Code Section 12-971; 1942 Code Section 6515; 1932 Code Section 6515; Civ. C. '22 Section 3419; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-1120. Damages for breach.

The bylaws and the marketing contract may fix, as liquidated damages, specific sums to be paid by the member or stockholder to the association upon the breach by him of any provision of the marketing contract regarding the sale or delivery or withholding of products and may further provide that the member will pay all costs, premiums for bonds, expenses and fees in case any action is brought upon the contract by the association. Any such provisions shall be valid and enforceable in the courts of this State.
HISTORY: 1962 Code Section 12-972; 1952 Code Section 12-972; 1942 Code Section 6515; 1932 Code Section 6515; Civ. C. '22 Section 3419; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-1130. Injunction and specific performance.

In the event of any such breach or threatened breach of such marketing contract by a member the association shall be entitled to an injunction to prevent the further breach of the contract and to a decree of specific performance thereof. Pending the adjudication of such an action and upon filing a verified complaint showing the breach or threatened breach and a sufficient bond, the association shall be entitled to a temporary restraining order and preliminary injunction against the member.
HISTORY: 1962 Code Section 12-973; 1952 Code Section 12-973; 1942 Code Section 6515; 1932 Code Section 6515; Civ. C. '22 Section 3419; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-1140. Contracts entered into with other associations.

Any association may, upon resolution adopted by its board of directors, enter into all necessary and proper contracts and agreements and make all necessary and proper stipulations, agreements, contracts and arrangements with any other cooperative corporation or association formed in this or in any other state for the cooperative and more economical carrying on of its business or any part thereof. Any two or more associations may, by agreement between them, unite in employing and using or may separately employ and use the same methods, means and agencies for carrying on and conducting their respective businesses.
HISTORY: 1962 Code Section 12-974; 1952 Code Section 12-974; 1942 Code Section 6520; 1932 Code Section 6520; Civ. C. '22 Section 3424; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 47 - Marketing Cooperative Associations › Section 33-47-1150. Inducing members to violate contract or spreading false reports.

Any person who knowingly induces or attempts to induce, or any corporation whose officers or employees knowingly induce or attempt to induce, any member or stockholder of an association organized hereunder to breach his marketing contract with the association or who maliciously and knowingly spreads false reports about the finances or management thereof shall be guilty of a misdemeanor and subject to a fine of not less than one hundred dollars and not more than one thousand dollars for such offense and shall be liable to the association aggrieved in a civil suit in the penal sum of five hundred dollars for each such offense.
HISTORY: 1962 Code Section 12-975; 1952 Code Section 12-975; 1942 Code Section 6522; 1932 Code Section 6522; Civ. C. '22 Section 3426; Cr. C. '22 Section 288; 1921 (32) 339.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-10. Short title.

This chapter may be cited as the "Electric Cooperative Act".
HISTORY: 1962 Code Section 12-1001; 1952 Code Section 12-1001; 1942 Code Section 8555-91; 1939 (41) 240; 2004 Act No. 179, Section 1.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-20. Definitions.

In this chapter, unless the context otherwise requires:
(1) "Person" includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or agency thereof, or any body politic.
(2) "Member" means each incorporator of a cooperative and each person admitted to and retaining membership therein and shall include a husband and wife admitted to joint membership.
(3) "Articles of incorporation" includes the articles of conversion of a converted corporation.
(4) "Commission" means the South Carolina Public Service Commission.
(5) "Corridor" means the area within 300 feet of an electric supplier's distribution lines as described in Act 432 of 1969.
(6) "Broadband affiliate" is as defined in Section 58-9-3010(2).
(7) "Broadband network" is as defined in Section 58-9-3010(4).
(8) "Broadband service" is as defined in Section 58-9-3010(5).
Corporations organized under this chapter and corporations which become subject to this chapter in the manner provided herein are hereinafter referred to as "cooperatives".
HISTORY: 1962 Code Section 12-1002; 1952 Code Section 12-1002; 1942 Code Sections 8555-92, 8555-106, 8555-121; 1939 (41) 240; 1972 (57) 2757; 2004 Act No. 179, Section 2; 2020 Act No. 175 (H.3780), Section 2, eff September 29, 2020.
Editor's Note
2020 Act No. 175, Section 6, provides as follows:
"SECTION 6. This act does not convey or confer any implied or express grant of authority to an investor-owned electric utility to provide broadband facilities or broadband services as defined in this act and any legal rights which may or may not belong to investor-owned electric utilities to provide broadband facilities or broadband services at the time of the passage of this act are neither expanded nor contracted by its passage."
Effect of Amendment
2020 Act No. 175, Section 2, inserted (6) to (8) and made nonsubstantive changes throughout.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-30. Waiver of notice.

Whenever any notice is required to be given under the provisions of this chapter or under the provisions of the articles of incorporation or bylaws of a cooperative, a waiver thereof in writing signed by the persons entitled to such notice, whether before or after the time fixed for the giving of such notice, shall be deemed equivalent to such notice. If a person entitled to notice of a meeting shall attend such meeting, such attendance shall constitute a waiver of notice of the meeting, except in case the attendance is for the express purpose of objecting to the transaction of any business because the meeting shall not have been lawfully called or convened.
HISTORY: 1962 Code Section 12-1003; 1952 Code Section 12-1003; 1942 Code Section 8555-114; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-40. Acknowledgments.

No person who is authorized to take acknowledgments under the laws of this State shall be disqualified from taking acknowledgments of instruments executed in favor of a cooperative or to which it is a party by reason of being an officer, director or member of such cooperative.
HISTORY: 1962 Code Section 12-1004; 1952 Code Section 12-1004; 1942 Code Section 8555-115; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-50. Exemption from control of Public Service Commission.

Cooperatives and foreign corporations transacting business in this State pursuant to this chapter, except for the provisions of Sections 58-27-40, 58-27-610 through 58-27-670, 58-27-820, 58-27-840, 58-27-1210, 58-27-1270, 58-27-1280, 58-27-210, and 33-49-150 are exempt from the jurisdiction and control of the Public Service Commission of this State.
HISTORY: 1962 Code Section 12-1005; 1952 Code Section 12-1005; 1942 Code Section 8555-119; 1939 (41) 240; 1969 (56) 740; 2019 Act No. 56 (H.3145), Section 1, eff January 1, 2020.
Editor's Note
2019 Act No. 56, Section 16, provides as follows:
"SECTION 16. Where the provisions of new or revised 1976 Code sections or subsections contained in this act conflict with provisions of the bylaws of an electric cooperative, the provisions of this act control and the cooperative, as permitted by Section 33-49-280, shall amend and conform its bylaw provisions accordingly."
Effect of Amendment
2019 Act No. 56, Section 1, inserted "and 33-49-150", substituted "are exempt" for "shall be exempt", and made nonsubstantive changes.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-60. Uniform Securities Act provisions are not applicable.

The provisions of Chapter 1 of Title 35 shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or foreign corporation transacting business in this State pursuant to this chapter, to the United States of America or any agency or instrumentality thereof or to any mortgage or deed of trust executed to secure the same. The provisions of said Title shall not apply to the issuance of membership certificates by any cooperative or any such foreign corporation.
HISTORY: 1962 Code Section 12-1006; 1952 Code Section 12-1006; 1942 Code Section 8555-120; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-70. Recording of mortgages; effect thereof.

Any mortgage, deed of trust or other instrument executed by a cooperative or foreign corporation transacting business in this State pursuant to this chapter which by its terms creates a lien upon real and personal property then owned or after-acquired and which is recorded as a mortgage of real property in any county in which such property is located or is to be located shall have the same force and effect as if the mortgage, deed of trust or other instrument were also recorded or filed in the proper office in such county as a mortgage of personal property. Recordation of any such mortgage, deed of trust or other instrument shall cause the lien thereof to attach to all after-acquired property of the mortgagor of the nature therein described as being mortgaged or pledged thereby immediately upon the acquisition thereof by the mortgagor and such lien shall be superior to all claims of creditors of the mortgagor and purchasers of such property and to all other liens, except liens of prior record, affecting such property.
HISTORY: 1962 Code Section 12-1008; 1952 Code Section 12-1008; 1942 Code Section 8555-113; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-80. Filing of papers by Secretary of State.

Articles of incorporation, amendment, consolidation, merger, conversion or dissolution and certificates of election to dissolve and affidavits of compliance, as the case may be, when executed and acknowledged and accompanied by such affidavits as may be required by the applicable provisions of this chapter shall be presented to the Secretary of State for filing in the records of his office. If the Secretary of State shall find that the articles presented conform to the requirements of this chapter, he shall, upon the payment of fees as in this chapter provided, file the articles so presented in the records of his office and upon such filing the incorporation, amendment, consolidation, merger, conversion or dissolution provided for therein shall be in effect.
HISTORY: 1962 Code Section 12-1009; 1952 Code Section 12-1009; 1942 Code Section 8555-109; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-90. Transmission and filing certified copies of articles in clerks' offices.

The Secretary of State immediately upon the filing in his office of any articles pursuant to this chapter shall transmit a certified copy thereof to the county clerk of the county in which the principal office of each cooperative or corporation affected by such incorporation, amendment, consolidation, merger, conversion or dissolution shall be located. Any such clerk, upon receipt of any such certified copy, shall file and index the same in the records of his office but the failure of the Secretary of State or of a clerk of a county to comply with the provisions of this section shall not invalidate such articles. In addition the Secretary of State shall forward to the clerk of court or register of mesne conveyance of any county in which such cooperative owns property affected a certified copy of any such document. The clerk of court or register of mesne conveyance shall file such document in an appropriate book or file to be provided for such purpose.
HISTORY: 1962 Code Section 12-1010; 1952 Code Section 12-1010; 1942 Code Section 8555-109; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-100. Fees.

The Secretary of State shall charge and collect for:
(1) Filing articles of incorporation, ten dollars;
(2) Filing articles of amendment, three dollars;
(3) Filing articles of consolidation or merger, five dollars;
(4) Filing articles of conversion, three dollars;
(5) Filing certificate of election to dissolve, three dollars;
(6) Filing articles of dissolution, five dollars; and
(7) Filing certificate of change of principal office, three dollars.
HISTORY: 1962 Code Section 12-1011; 1952 Code Section 12-1011; 1942 Code Section 8555-117; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-110. All papers shall be filed in quadruplicate.

All papers filed in the office of the Secretary of State pursuant to the provisions of this chapter shall be filed in quadruplicate.
HISTORY: 1962 Code Section 10-1012; 1952 Code Section 12-1012; 1942 Code Section 8555-117; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-120. Cooperatives and foreign corporations shall be subject to all taxes except income taxes.

Each cooperative and each foreign corporation transacting business in this State pursuant to this chapter, beginning with taxes to be assessed on December 31, 1969, shall be subject to and pay property taxes levied by the State, any county, municipality, school district or any other taxing subdivision, and shall be subject to and pay such other taxes as may be imposed by law, but shall be exempt from income taxes.
HISTORY: 1962 Code Section 12-1013; 1952 Code Section 12-1013; 1942 Code Section 8555-118; 1939 (41) 240; 1969 (56) 740.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-130. Construction of chapter.

This chapter shall be construed liberally. The enumeration of any object, purpose, power, manner, method or thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods or things.
HISTORY: 1962 Code Section 12-1007; 1952 Code Section 12-1007; 1942 Code Section 8555-122; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-140. Certain rights and agreements not affected.

Nothing contained herein shall affect the service areas and agreements between suppliers, as they exist on the effective date of this act as referenced in Section 58-31-430. Further, nothing contained herein shall affect the powers or service rights of electric cooperatives as referenced in Section 58-27-620(6). Nothing contained herein shall authorize an electric supplier to replace another electric supplier's existing service, except as provided in Chapter 27 of Title 58.
HISTORY: 2004 Act No. 179, Section 3.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-210. Purpose of organization under this chapter.

Cooperative nonprofit membership corporations may be organized under this chapter for the purpose of supplying electric energy and promoting and extending the use thereof.
HISTORY: 1962 Code Section 12-1021; 1952 Code Section 12-1021; 1942 Code Section 8555-92; 1939 (41) 240; 2004 Act No. 179, Section 4.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-220. Organizers.

Five or more natural persons or two or more cooperatives may organize a cooperative in the manner hereinafter provided.
HISTORY: 1962 Code Section 12-1022; 1952 Code Section 12-1022; 1942 Code Section 8555-95; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-230. Articles of incorporation.

The articles of incorporation of a cooperative shall recite in the caption that they are executed pursuant to this chapter, shall be signed and acknowledged by each of the incorporators and shall state:
(1) The name of the cooperative;
(2) The address of its principal office;
(3) The names and addresses of the incorporators;
(4) The names and addresses of the persons who shall constitute its first board of trustees; and
(5) Any provisions not inconsistent with this chapter deemed necessary or advisable for the conduct of its business and affairs.
Such articles of incorporation shall be submitted to the Secretary of State for filing as provided in this chapter.
It shall not be necessary to set forth in the articles of incorporation of a cooperative the purpose for which it is organized or any of the corporate powers vested in a cooperative under this chapter.
HISTORY: 1962 Code Section 12-1023; 1952 Code Section 12-1023; 1942 Code Section 8555-96; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-240. Name of cooperative.

The name of each cooperative shall include the words "electric" and "cooperative" and the abbreviation "Inc."; provided, however, such limitation shall not apply if, from an affidavit made by the president or vice-president of a cooperative and filed with the Secretary of State, it shall appear that the cooperative desires to transact business in another state and is precluded therefrom by reason of its name. The name of a cooperative shall distinguish it from any other corporation organized under the laws of or authorized to transact business in this State. The words "electric" and "cooperative" shall not both be used in the name of any corporation organized under the laws of or authorized to transact business in this State, except a cooperative or a corporation transacting business in this State pursuant to the provisions of this chapter.
HISTORY: 1962 Code Section 12-1024; 1952 Code Section 12-1024; 1942 Code Section 8555-94; 1939 (41) 240.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-255. Restrictions on interruption of electric service to residential customer for nonpayment of bill; exceptions.

(A) Except as provided in subsection (B) of this section, an electric cooperative must not interrupt electric service to any residential customer for nonpayment of a bill until twenty-five days have elapsed from the date of billing.
(B) An electric cooperative may interrupt electric service to a residential customer who has voluntarily enrolled in a prepay program if the prepay program allows the customer to monitor his consumption of electricity and his account balance on a daily basis and the balance of that customer's prepay account is zero, provided that the following conditions are met:
(1) at the time the residential customer enrolls in the prepay program, the residential customer is informed and agrees that his electric service may be interrupted when the balance of his prepay account reaches zero;
(2) electric service must not be interrupted before 10:00 a.m. on the next business day following an attempt by the electric cooperative to give the customer notice of the impending interruption by telephone or electronically; and
(3) service must not be interrupted except during hours when the electric cooperative is accepting cash payments. For purposes of this subsection, a business day is any day in which the electric cooperative, or an agent, is accepting cash payments.
(C) Nothing contained in this section must be construed so as to relieve an electric cooperative of the requirements of Act 313 of 2006.
(D) A person aggrieved by a violation of this section must make a complaint to the Office of Regulatory Staff for redress in accordance with applicable law. If the matter is not resolved after making a complaint to the Office of Regulatory Staff, the person may petition the courts of this State for redress.
HISTORY: 2010 Act No. 258, Section 4, eff June 11, 2010; 2019 Act No. 56 (H.3145), Section 3, eff January 1, 2020.
Editor's Note
2019 Act No. 56, Section 16, provides as follows:
"SECTION 16. Where the provisions of new or revised 1976 Code sections or subsections contained in this act conflict with provisions of the bylaws of an electric cooperative, the provisions of this act control and the cooperative, as permitted by Section 33-49-280, shall amend and conform its bylaw provisions accordingly."
Effect of Amendment
2019 Act No. 56, Section 3, in (B), made nonsubstantive changes; in (C), substituted "in this section must" for "herein shall" and rewrote (D), providing that complaints must be made to the Office of Regulatory Staff and then, if necessary, the courts.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-260. Sale of assets.

(a) A sale (which term shall include a sale, lease, exchange or any other disposition of assets, except a mortgage of or other security interest in the assets) of all, or substantially all, the property and assets, with or without the goodwill, of a cooperative may be made upon such terms and conditions and for such consideration, which may consist in whole or in part of money or property, real or personal, including shares of any other corporation, domestic or foreign, as shall be authorized in the following manner:
(1) The board of trustees shall adopt a resolution recommending such sale, and directing the submission thereof to a vote at a meeting of members, which may be either an annual or a special meeting.
(2) Written or printed notice shall be given to each member of record entitled to vote at such meeting within the time and in the manner provided for the giving of notice of meetings of members, and, whether the meeting be an annual or a special meeting, shall state that the purpose, or one of the purposes, of the meeting is to consider the proposed sale.
(3) At such meeting the members may authorize such sale, and may fix, or may authorize the board of trustees to fix, any or all of the terms and conditions thereof and the consideration to be received by the cooperative therefor. Each member of the cooperative shall be entitled to vote thereon. Such authorization shall require the affirmative vote of at least two thirds of all the members of the cooperative.
(b) The articles of incorporation or bylaws of any cooperative may contain a provision prescribing for approval of any sale of assets a vote greater than, but in no event less than, that prescribed by subsection (a) of this section.
(c) After such authorization by a vote of the members, the board of trustees nevertheless, in its discretion, may abandon such sale of assets, subject to the rights of third parties under any contracts relating thereto, without further action or approval by members.
HISTORY: 1962 Code Section 12-1035; 1952 Code Section 12-1035; 1942 Code Section 8555-111; 1939 (41) 240; 1970 (56) 1967.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-270. Mortgage or pledge of assets.

A mortgage or pledge of or other security interest in all or any part of the assets of a cooperative, whether or not in the usual and regular course of its business, may be made by authority of the board of trustees of the cooperative without authorization of the members, unless the articles of incorporation or bylaws shall specifically so require.
HISTORY: 1962 Code Section 12-1035.1; 1970 (56) 1967.
2023 South Carolina Code of Laws › Title 33 - Corporations, Partnerships and Associations › Chapter 49 - Electric Cooperatives › Section 33-49-280. Bylaws.

The original bylaws of a cooperative shall be adopted by its board of trustees. Thereafter bylaws shall be adopted, amended or repealed by its members. The bylaws shall set forth the rights and duties of members and trustees and may contain other provisions for the regulation and management of the affairs of the cooperative not inconsistent with this chapter or with its articles of incorporation.
HISTORY: 1962 Code Section 12-1026; 1952 Code Section 12-1026; 1942 Code Section 8555-97; 1939 (41) 240.