S.C. Code Ann. § 58-17-760: Ownership of stock or bonds of connecting railroad or steamboat company.

A railroad corporation may aid in the construction of any branch or connecting railroad within the limits of this State, whether connecting by railroad or steamboat lines, by subscribing for shares of stock in such corporation or of any steamship line connecting the terminus of such railroad company with any port of the United States or by taking its notes or bonds, to be secured by mortgage or otherwise, as the parties may agree, and shall be entitled to vote on all shares of stock so subscribed for and held.