{"data":{"id":"us-sc/s.c.-code-ann.-33-31-1502","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 33-31-1502","heading":"Consequences of transacting business without authority.","body":"(a) A foreign corporation transacting business in this State without a certificate of authority may not maintain a proceeding in a court in this State until it obtains a certificate of authority.\n(b) The successor to a foreign corporation that transacted business in this State without a certificate of authority and the assignee of a cause of action arising out of that business may not maintain a proceeding on that cause of action in any court in this State until the foreign corporation or its successor obtains a certificate of authority.\n(c) A court may stay a proceeding commenced by a foreign corporation, its successor, or assignee until it determines whether the foreign corporation or its successor requires a certificate of authority. If it so determines, the court may further stay the proceeding until the foreign corporation or its successor obtains the certificate.\n(d) A foreign corporation is liable for a civil penalty of ten dollars for each day it transacts business in this State without a certificate of authority, but not to exceed a total of one thousand dollars. The Attorney General may collect all penalties due under this subsection.\n(e) Notwithstanding subsections (a) and (b), the failure of a foreign corporation to obtain a certificate of authority does not impair the validity of its corporate acts or prevent it from defending any proceeding in this State.","path":["Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 31 South Carolina Nonprofit Corporation Act","ARTICLE 15 Foreign Corporations"],"source_url":"https://www.scstatehouse.gov/code/t33c031.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:03:59Z","sha256":"9421656f89e1b2dd425132d6936cc8c22f2e063acd51ecb866fad0faafe382a5","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-33-31-1501","next":"us-sc/s.c.-code-ann.-33-31-1503"},"notice":"GroundRules: Original legal text. Not legal advice."}