Fictitious increase of stock or indebtedness shall be void.

  1. Law
  2. South Carolina Code of Laws
  3. Public Utilities, Services and Carriers
  4. Railroad, Street Railway, Steamboat And Canal Companies
  5. Fictitious increase of stock or indebtedness shall be void.

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Neither stocks nor bonds shall be issued by any corporation organized under this chapter except for money paid, property delivered or labor done and all fictitious increase of stock or indebtedness shall be void.

HISTORY: 1962 Code Section 58-682; 1952 Code Section 58-682; 1942 Code Section 8195; 1932 Code Section 8195; Civ. C. '22 Section 4375; Civ. C. '12 Section 2889; Civ. C. '02 Section 1932; 1899 (23) 68.


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