No capital stock shall be issued by any corporation organized under this chapter until the subscription price therefor has been fully paid, except when, by the terms of the petition, the capital stock is to be paid for in installments and payment of the deferred portion has been secured.
Capital stock shall not be issued until price paid; exception
S.C. Code Ann. § 58-15-140, under Title 58, Chapter 15.
S.C. Code Ann. § 58-15-140