The directors may: (1) Appoint all necessary officers and employees of the corporation, fix their compensation and take security for the faithful discharge of their respective duties; (2) Prescribe the manner of paying for the stock of the corporation and the transfer thereof; and (3) Prescribe from time to time such penalties for the nonpayment of subscriptions to the capital stock of the corporation as they may deem proper. HISTORY: 1962 Code Section 8-134; 1952 Code Section 8-134; 1942 Code Section 7845; 1932 Code Section 7874; Civ. C. '22 Section 4001; Civ. C. '12 Section 2663; Civ. C. '02 Section 1778; R. S. 1541; 1885 (19) 214.
South Carolina Legal Code