South Carolina General Assembly
107th Session, 1987-1988

Bill 2908

                    Current Status

Bill Number:               2908
Ratification Number:       703
Act Number                 606
Introducing Body:          House
Subject:                   To redefine "business with which he is
                           associated"
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A606, R703, H2908)

AN ACT TO AMEND SECTION 8-13-20, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ETHICS, SO AS TO REDEFINE "BUSINESS WITH WHICH HE IS ASSOCIATED" AS ONE WHO HOLDS STOCK CONSTITUTING FIVE PERCENT OR MORE OF THE TOTAL OUTSTANDING STOCK OF ANY CLASS OR AS ONE WHO HOLDS STOCK WORTH TEN THOUSAND DOLLARS OR MORE AT FAIR MARKET VALUE.

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

Definition

SECTION 1. Section 8-13-20(b) of the 1976 Code is amended to read:

"(b) 'Business with which he is associated' means any business of which the person or a member of his household is a director, officer, owner, employee, or holder of stock worth ten thousand dollars or more at fair market value or which constitutes five percent or more of the total outstanding stock of any class and any business which is a client of the person;".

Time effective

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