(a) If a special meeting is requested, notice of the special meeting of shareholders must be given as promptly as reasonably practicable by the issuing public corporation to all shareholders of record as of the record date set for the meeting, whether or not entitled to vote at the meeting. (b) Notice of the special or annual shareholder meeting at which the voting rights are to be considered must include or be accompanied by both of the following: (1) a copy of the acquiring person statement delivered to the issuing public corporation pursuant to this article; (2) a statement by the board of directors of the corporation, authorized by its directors, of its position or recommendation, or that it is taking no position or making no recommendation, with respect to the proposed control share acquisition. HISTORY: 1988 Act No. 444, Section 5, eff April 22, 1988.
South Carolina Legal Code