A corporation not-for-profit which has not commenced business may dissolve voluntarily by delivering to the Secretary of State for filing articles of dissolution, executed and acknowledged on behalf of the corporation, and stating: (1) the name of the corporation; (2) the address of its principal office; (3) the date of its incorporation; (4) that the corporation has not commenced business; (5) that the amount, if any, actually paid in an amount of membership fees, less any part disbursed for necessary expenses, has been returned to those entitled to it; (6) that no debt of the corporation remains unpaid; and (7) that a majority of the incorporators elects that the corporation be dissolved. HISTORY: 2000 Act No. 404, Section 2.
South Carolina Legal Code