(a) The following statement must appear conspicuously on each share certificate issued by a professional corporation: 'The transfer of shares of a professional corporation is restricted by the South Carolina Professional Corporation Supplement, Chapter 19 of Title 33, and may be subject to further restriction imposed by the licensing authority. Shares of a professional corporation are subject also to a statutory repurchase obligation.' (b) Within a reasonable time after the issuance or transfer of uncertificated shares of a professional corporation, the corporation shall send the shareholders a written notice containing the statement required by subsection (a). HISTORY: Derived from 1976 Code Section 33-51-100 [1962 Code Section 56-1610; 1962 (52) 1911; Repealed, 1988 Act No. 444, Section 4(5)], and Section 33-51-140 [1962 Code Section 56-1614; 1962 (52) 1911; Repealed, 1988 Act No. 444, Section 4(5)]; 1988 Act No. 444, Section 2.
South Carolina Legal Code