No city or municipality creating such a corporation or owning the stock therein shall be liable for any act of such corporation or for the debts or obligations thereof, nor shall such city or municipality be liable for any act of any officer or director of any such corporation or any of them or of any agent thereof.
Municipal stockholder not liable for debts or acts of corporation
S.C. Code Ann. § 51-15-530, under Title 51, Chapter 15.
S.C. Code Ann. § 51-15-530