{"data":{"id":"us-sc/s.c.-code-ann.-33-38-220","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 33-38-220","heading":"Termination of status as benefit corporation.","body":"(A) A benefit corporation may terminate its status and cease to be subject to this chapter by amending its articles of incorporation to remove the provision that the corporation is a benefit corporation governed by this chapter. The amendment must be approved in the manner required by Section 33-38-230. Any sale, lease, exchange, or other disposition of all, or substantially all, of the property of a benefit corporation, unless the transaction is in the usual and regular course of business, shall not be effective unless it is approved in the manner required by Section 33-38-230.\n(B) If a plan of merger, conversion, or share exchange would have the effect of terminating the status of a benefit corporation as a benefit corporation, the plan must be approved in the manner required by Section 33-38-230.","path":["Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 38 South Carolina Benefit Corporation Act","ARTICLE 2 Adoption and Change of Status"],"source_url":"https://www.scstatehouse.gov/code/t33c038.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:04:14Z","sha256":"f1cc2e14cc7fb11d37bcfefdd80fa73112002e468522ccea62b9e59aa0fc58be","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-33-38-210","next":"us-sc/s.c.-code-ann.-33-38-230"},"notice":"GroundRules: Original legal text. Not legal advice."}