S 0081 General Bill, By Knotts and Reese
 A BILL TO AMEND SECTION 12-20-30, CODE OF LAWS OF SOUTH CAROLINA, 1976,
 RELATING TO THE FORM, CONTENT, AND PUBLIC INSPECTION OF A CORPORATE ANNUAL
 REPORT FILED WITH THE DEPARTMENT OF REVENUE, SO AS TO REQUIRE THAT ALL
 INFORMATION REQUIRED TO BE FILED IS OPEN TO UNRESTRICTED PUBLIC INSPECTION.

   12/11/02  Senate Prefiled
   12/11/02  Senate Referred to Committee on Finance
   01/14/03  Senate Introduced and read first time SJ-52
   01/14/03  Senate Referred to Committee on Finance SJ-52

TO AMEND SECTION 12-20-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FORM, CONTENT, AND PUBLIC INSPECTION OF A CORPORATE ANNUAL REPORT FILED WITH THE DEPARTMENT OF REVENUE, SO AS TO REQUIRE THAT ALL INFORMATION REQUIRED TO BE FILED IS OPEN TO UNRESTRICTED PUBLIC INSPECTION.

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

SECTION    1.    Section 12-20-30 of the 1976 Code is amended to read:

"Section 12-20-30.    (A)    The annual report must be in a form prescribed by the department and Secretary of State and contain all information that the department or the Secretary of State may require for the administration of the provisions of this chapter and the provisions of Title 33. The information in the annual report must be current as of the date the annual report is executed on behalf of the corporation and contain the following information:

(1)    the name of the corporation and the state or country of incorporation;

(2)    the address of the registered office and the name of the registered agent in this State;

(3)    the address of the principal office;

(4)    the names and business addresses of the directors and principal officers;

(5)    a brief description of the nature of the business;

(6)    the total number of authorized shares of stock, itemized by class and series, if any, within each class; and

(7)    the total number of issued and outstanding shares of stock, itemized by class and series, if any, within each class.

(B)    The information required by this subsection and all other information required to be filed as part of the corporation's annual report in addition to the information required by subsection (A) is open to unrestricted public inspection. Any A person may request a copy of the information from either the Secretary of State or the department.

(B)    The Secretary of State or the department may by regulation permit the public disclosure of other information that is required to be filed as part of the corporation's annual report in addition to the information required by subsection (A)."

SECTION    2.    This act takes effect upon approval by the Governor.