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South Carolina · Through 2025 Session of the General Assembly

S.C. Code Ann. § 33-19-221: Attempted share transfer in breach of prohibition.

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Where this section sits in the code
  1. Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
  2. CHAPTER 19 Professional Corporation Supplement
  3. ARTICLE 3 Shares

(a) An attempt to transfer shares in a professional corporation in violation of a prohibition against transfer binding on the transferee is ineffective.

(b) An attempt to transfer shares in a professional corporation in violation of a prohibition against transfer that is not binding on the transferee, either because the notice required by Section 33-19-210 was not given or because the prohibition is held unenforceable by a court, gives the professional corporation an option to purchase the shares from the transferee for the same price and on the same terms that he purchased them. To exercise its option, the corporation must give the transferee written notice within thirty days after they are presented for registration in the transferee's name. The professional corporation may enforce specifically the transferee's sale obligation upon exercise of its purchase option.

Collected 2026-09-02T07:03:44Z. Source file · JSON

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