H 3094 Session 111 (1995-1996)
H 3094 General Bill, By J.L.M. Cromer and Whipper
A Bill to amend Section 33-4-104, Code of Laws of South Carolina, 1976,
relating to the South Carolina Business Corporation Act of 1988 and the name
change filing requirement when real property is owned by a corporation, so as
to provide, among other things, for situations involving the ownership of
personal property, for filings in the office of the Secretary of State, for
the reason for the name change, that no corporation may change it's name more
than once every six years and, that all prior names of the corporation must be
indexed and recorded with the corporation's current name; and to amend
Sections 39-13-10, 39-13-20, 39-13-30, and 39-13-40, relating to mercantile
and industrial establishments (other than lawfully chartered corporations and
individuals conducting their businesses under and in their own individual
names), so as to, among other things, provide for filings in the office of the
Secretary of State, as well as with the clerk of the court of the county in
which the principal place of business of each affected mercantile or
industrial establishment is located, require the filing of the name, as well
as any change of name, of a mercantile or industrial establishment, require a
sworn statement as to the reason for a name change, provide that no mercantile
or industrial establishment may change the name of it's business more than
once every six years, change the amount of the filing fee, and change the
penalties.
12/14/94 House Prefiled
12/14/94 House Referred to Committee on Judiciary
01/10/95 House Introduced and read first time HJ-35
01/10/95 House Referred to Committee on Judiciary HJ-35
A BILL
TO AMEND SECTION 33-4-104, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO THE SOUTH CAROLINA
BUSINESS CORPORATION ACT OF 1988 AND THE NAME
CHANGE FILING REQUIREMENT WHEN REAL PROPERTY
IS OWNED BY A CORPORATION, SO AS TO PROVIDE,
AMONG OTHER THINGS, FOR SITUATIONS INVOLVING
THE OWNERSHIP OF PERSONAL PROPERTY, FOR FILINGS
IN THE OFFICE OF THE SECRETARY OF STATE, FOR THE
REASON FOR THE NAME CHANGE, THAT NO
CORPORATION MAY CHANGE ITS NAME MORE THAN
ONCE EVERY SIX YEARS AND, THAT ALL PRIOR NAMES
OF THE CORPORATION MUST BE INDEXED AND
RECORDED WITH THE CORPORATION'S CURRENT NAME;
AND TO AMEND SECTION 39-13-10, 39-13-20, 39-13-30, AND
39-13-40, RELATING TO MERCANTILE AND INDUSTRIAL
ESTABLISHMENTS (OTHER THAN LAWFULLY CHARTERED
CORPORATIONS AND INDIVIDUALS CONDUCTING THEIR
BUSINESSES UNDER AND IN THEIR OWN INDIVIDUAL
NAMES), SO AS TO, AMONG OTHER THINGS, PROVIDE
FOR FILINGS IN THE OFFICE OF THE SECRETARY OF
STATE, AS WELL AS WITH THE CLERK OF THE COURT OF
THE COUNTY IN WHICH THE PRINCIPAL PLACE OF
BUSINESS OF EACH AFFECTED MERCANTILE OR
INDUSTRIAL ESTABLISHMENT IS LOCATED, REQUIRE THE
FILING OF THE NAME, AS WELL AS ANY CHANGE OF
NAME, OF A MERCANTILE OR INDUSTRIAL
ESTABLISHMENT, REQUIRE A SWORN STATEMENT AS TO
THE REASON FOR A NAME CHANGE, PROVIDE THAT NO
MERCANTILE OR INDUSTRIAL ESTABLISHMENT MAY
CHANGE THE NAME OF ITS BUSINESS MORE THAN ONCE
EVERY SIX YEARS, CHANGE THE AMOUNT OF THE FILING
FEE, AND CHANGE THE PENALTIES.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 33-4-104 of the 1976 Code is amended to
read:
"Section 33-4-104. (a) When any corporation which
owns real property in South Carolina changes its corporate name by
amendment of its articles or by merger, share exchange, or
reorganization, the newly-named, surviving, acquiring, or
reorganized corporation must file a notice of that name change in
the office of the register of mesne conveyances of the county in
South Carolina in which the real property is situate and in the
office of the Secretary of State. If there is no such
office of register of mesne conveyances in that county, a
notice of name change must be filed with the clerk of court of the
county in which that real property is situate.
(b) When any corporation which owns only personal
property in South Carolina changes its corporate name by
amendment of its articles or by merger, share exchange, or
reorganization, the newly-named, surviving, acquiring, or
reorganized corporation must file a notice of that name change in
the office of the Secretary of State.
(c) The filing must be:
(1) by affidavit executed in accordance with the provisions of
Section 33-1-200 and containing the old and new names of the
corporation and the reason for the name change, which
affidavit also may describe the any real property
owned by that corporation; or
(2) by filing a certified copy of the amended articles, articles
of merger, or articles of share exchange, including the reason
for the name change; or
(3) by a duly recorded deed of conveyance to the
newly-named, surviving, acquiring, or reorganized corporation,
including the reason for the name change.
(c)(d) The affidavit or filed articles must be duly
indexed in the index of deeds, where appropriate, and likewise
indexed and recorded in the records of the Secretary of State's
office.
(d)(e) Notwithstanding any other provision of
law, no corporation may change its name more than once every six
years, and all prior names of the corporation must be indexed and
recorded with the corporation's current name.
(f) The purpose of this section is to establish record
notice under Chapter 7 of Title 30. Failure to make the required
filing of a corporate name change will not affect the legality, force,
effect, or enforceability as between the parties of any conveyance or
other transaction involving the any real estate
owned by the affected corporation that is made subsequent to the
change in name."
SECTION 2. (A) Section 39-13-10 of the 1976 Code is
amended to read:
"Section 39-13-10. All mercantile and industrial
establishments, other than lawfully chartered corporations and
individuals conducting their businesses under and in their own
individual names having a place of business in this State, shall file
with the office of the Secretary of State and with the clerk
of the court of the county in which the principal place of business
of each such mercantile or industrial establishment is located the
name of the mercantile or industrial establishment and the
name or names of the owner or owners or proprietor or proprietors
thereof and, in case of partnerships, the name of each partner and
they shall exhibit on a sign or alongside the entrance of each place
of business of such mercantile or industrial establishment the name
or names of the owner or owners or proprietor or proprietors
thereof, including the name of each partner of a partnership, such
name or names to be printed in Roman letters of such size as to be
read easily."
(B) Section 39-13-20 of the 1976 Code is amended to read:
"Section 39-13-20. If there be any change in the
name of the mercantile or industrial establishment or in
owner or owners or proprietor or proprietors of any such mercantile
or industrial establishment, any person retiring from such ownership
or proprietorship shall file in the office of the Secretary of State
and the office of the clerk of court of the county in which the
principal place of business of such mercantile or industrial
establishment is located a notice of such change, including a
sworn statement as to the reason for the change, and shall have
the sign or signs herein provided for changed. Until both such
notice shall be filed and such change made on such signs, such
person shall be liable for all debts and contracts of such mercantile
or industrial establishment according to the interest he formerly had
therein.
Notwithstanding any other provision of law, no mercantile or
industrial establishment subject to this chapter may change the name
of its business more than once every six years."
(C) Section 39-13-30 of the 1976 Code is amended to read:
"Section 39-13-30. The Secretary of State and
the clerk of court shall keep all such statements of ownership
and name changes on file, shall record them in a book to
be provided for that purpose, and shall keep such book
indexed both as to all prior names and the current name of the
mercantile or industrial establishment. He The
Secretary of State and the clerk of court shall receive as a fee
for filing any such statement or notice of change the sum of
twenty-five cents one dollar."
(D) Section 39-13-40 of the 1976 Code is amended to read:
"Section 39-13-40. Any person violating any of the
provisions of this chapter shall be guilty of a misdemeanor and
shall be fined not to exceed one dollar hundred
dollars or be imprisoned for five days for each day such
mercantile establishment shall do business. Each partner of a
partnership shall be severally liable."
SECTION 3. This act takes effect upon approval by the
Governor.
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