S*0428(Rat #0085, Act #0048 of 1981)  General Bill, By L.M. Gressette and 
F.H. McGill

Similar(H 2724)
 A Bill to amend Chapter 45 of Title 33, Code of Laws of South Carolina, 1976,
 relating to cooperative associations, by adding Section 33-45-145, so as to
 provide a procedure for amending the Articles of Incorporation of such
 associations.

   04/14/81  Senate Introduced and read first time SJ-8
   04/14/81  Senate Referred to Committee on Judiciary SJ-8
   04/16/81  Senate Recalled from Committee on Judiciary SJ-6
   04/16/81  Senate Read second time SJ-16
   04/21/81  Senate Read third time and sent to House SJ-10
   04/22/81  House  Introduced, read first time, placed on calendar
                     without reference HJ-1969
   04/23/81  House  Read second time HJ-2035
   04/24/81  House  Read third time and enrolled HJ-2062
   04/30/81  Senate Ratified R 85 SJ-8
   04/30/81         Signed By Governor
   04/30/81         Effective date 04/30/81
   04/30/81         Act No. 48
   05/15/81         Copies available

AN ACT TO AMEND CHAPTER 45 OF TITLE 33, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO COOPERATIVE ASSOCIATIONS, BY ADDING SECTION 33-45-145, SO AS TO PROVIDE A PROCEDURE FOR AMENDING THE ARTICLES OF INCORPORATION OF SUCH ASSOCIATIONS.

Be it enacted by the General Assembly of the State of South Carolina:

Procedure for amending Article of Incorporation

SECTION 1. Chapter 45 of Title 33 of the 1976 Code is amended by adding:

"Section 33-45-145. A cooperative may amend its articles of incorporation by complying with the following requirements:

(1) The proposed amendment shall be first approved by the board of directors and shall then be submitted to a vote of the members at any annual or special meeting thereof. Notice of the proposed amendments shall be mailed to each member not less than ten days prior to the meeting at which it shall be voted upon. The proposed amendment, with such changes as the members shall choose to make therein, shall be deemed to be approved on the affirmative vote of not less than two thirds of those members voting thereon at such annual or special meeting.

(2) Upon such approval by the members, articles of amendment shall be executed and acknowledged on behalf of the cooperative by its president or vice-president and its corporate seal shall be affixed thereto and attested by its secretary. The articles of amendment shall recite in the caption that they are executed pursuant to this chapter and shall state

(a) the name of the cooperative,

(b) the address of its principal office,

(c) the date of the filing of its articles of incorporation in the office of the Secretary of State and

(d) the amendment to its articles of incorporation.

The president or vice-president executing such articles of amendment shall also make and annex thereto an affidavit stating that the provisions of this section were duly complied with. Such articles of amendment and affidavit shall be submitted to the Secretary of State for filing as provided in this chapter.

As used in this section 'articles of incorporation' also means 'certificate of charter' as used elsewhere in this chapter."

Time effective

SECTION 2. This act shall take effect upon approval by the Governor.