Current Status Bill Number:View additional legislative information at the LPITS web site.1331 Ratification Number:587 Act Number:584 Introducing Body:Senate Subject:Authorize the Secretary of State to restore the charter of Smith Timber, Inc., and Hardeeville Business Development Corporation, and the directors of a corporation bearing Corporate Charter No. 18122 shall act as liquidating trustees of such corporation
(A584, R587, S1331)
AN ACT TO AUTHORIZE THE SECRETARY OF STATE TO RESTORE THE CHARTER OF SMITH TIMBER, INC., AND HARDEEVILLE BUSINESS DEVELOPMENT CORPORATION, AND THE DIRECTORS OF A CORPORATION BEARING CORPORATE CHARTER NO. 18122 SHALL ACT AS LIQUIDATING TRUSTEES OF SUCH CORPORATION.
Be it enacted by the General Assembly of the State of South Carolina:
Charter restored
SECTION 1. Authority is granted to the Secretary of State to restore the charter of Smith Timber, Inc., upon payment to the South Carolina Tax Commission of such taxes, penalties, and interest found to be due. The Secretary of State shall note the reinstatement upon the record of the original charter.
Liquidation of corporation
SECTION 2. Corporate charter number 18122 in the Secretary of State's Office is revoked effective March 8, 1983. The directors of this corporation, as of March 8, 1983, shall act as the liquidating trustees of the corporation in the same manner as the directors of a dissolved corporation act as its liquidating trustees in the manner provided by law.
Charter restored
SECTION 3. Authority is granted to the Secretary of State to restore the charter of Hardeeville Business Development Corporation upon payment to the South Carolina Tax Commission of such taxes, penalties, and interest found to be due. The Secretary of State shall note the reinstatement upon the record of the original charter.
Time effective
SECTION 4. This act shall take effect upon approval by the Governor.