South Carolina. Statutory Language

South Carolina Statute 44-27

SOUTH CAROLINA STATUTE

TRUSTS, MONOPOLIES AND RESTRAINTS OF TRADE

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§§ 39-3-10

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39-3-360

§ 39-3-10. Arrangements, contracts, agreements, trusts and combinations

adversely affecting competition or price declared against public

policy

All arrangements, contracts, agreements, trusts or combinations (a) between two

or more persons as individuals, firms or corporations, made with a view to lessen, or

which tend to lessen, full and free competition in the importation or sale of articles

imported into this State or in the manufacture or sale of articles of domestic growth

or of domestic raw material, (b) between persons or corporations designed or which

tend to advance, reduce or control the price or the cost to the producer or consumer

of any such product or article and (c) between two or more persons as individuals,

firms, corporations, syndicates or associations that may lessen or affect in any

manner the full and free competition in any tariff, rates, tolls, premium or prices in

any branch of trade, business or commerce are declared to be against public policy,

unlawful and void.

§ 39-3-20. Penalties for corporate violations of § 39-3-10

Whenever complaint is made upon sufficient affidavit showing a prima facie

case of violation of the provisions of § 39-3-10 by any corporation, domestic or

foreign, the Attorney General shall begin an action against such domestic corporation

to forfeit its charter and for the purpose of such forfeiture he shall apply to any court

of competent jurisdiction for an order restraining such offending corporation and,

when in his discretion it is necessary, for the immediate appointment of a receiver for

such offending corporation when such forfeiture affects a creditor of such offending

company. If such violation shall be established the court shall adjudge the charter of

such corporation to be forfeited and such corporation shall be dissolved and its

charter shall cease and determine. In the case of such showing as to a foreign

corporation an action shall be begun by the Attorney General in such court against

such corporation to determine the truth of such charge and in case such charge shall

be considered established the effect of the judgment of the court shall be to deny to

such corporation the recognition of its corporate existence in any court of law or

equity in this State. But nothing in this section shall be construed to affect any right

of action then existing against such corporation.

§ 39-3-30. Injured person may recover damages

Any person who may be injured or damaged by any such arrangement, contract,

agreement, trust or combination described in § 39-3-10 may sue for and recover, in

South Carolina Statute 44-28

any court of competent jurisdiction in this State, from any person operating such trust

or combination, the full consideration or sum paid by him for any goods, wares,

merchandise or articles the sale of which is controlled by such combination or trust.

§ 39-3-40. Testimony may be compelled; immunity of witness

Any person may be compelled to testify in any action or prosecution under

§§ 39-3-10 to 39-3-30. But such testimony shall not be used in any other action or

prosecution against such witness and such witness shall forever be exempt from any

prosecution for the act concerning which he testifies.

§ 39-3-110. “Monopoly” defined

A “monopoly” is any union, combination, consolidation or affiliation of capital,

credit, property, assets, trade, custom, skill, acts or other valuable thing or

possession, by or between persons, firms or corporations or associations of persons,

firms or corporations, whereby any one of the purposes or objects mentioned in this

article is accomplished or sought to be accomplished or whereby any one or more of

such purposes are promoted or attempted to be executed or carried out or the several

results described herein are reasonably calculated to be produced. A “monopoly” as

thus defined includes not merely such combinations by and between two or more

persons, firms or corporations acting for themselves, but all aggregations,

amalgamations, affiliations, consolidations or incorporations of capital, skill, credit,

assets, property, custom, trade or other valuable thing or possession, whether effected

by the ordinary methods of partnership, by actual union under the legal form of a

corporation, or by the purchase, acquisition or control of shares or certificates of

stocks or bonds or other corporate property or franchises and all corporations or

partnerships that have been or may be created by the consolidation or amalgamation

of the separate capital, stock, bonds, assets, credit, properties, custom, trade or

corporate or firm belongings of two or more firms, corporations or companies are

especially declared to constitute monopolies within the meaning of this article, if so

created or entered into for any one or more of the purposes named in this article.

§ 39-3-120. Monopolies declared unlawful

A monopoly is declared to be unlawful and against public policy and all persons

engaged therein shall be guilty of a conspiracy to defraud and shall be subject to the

penalties prescribed in this article.

§ 39-3-130. Agreement in restraint of trade shall be conspiracy to defraud

Any corporation organized under the laws of this or any other State or country

transacting or conducting any kind of business in this State or any partnership,

individual or other person or association of persons whatsoever, who shall create,

enter into or become a member of or a party to any pool, trust, agreement,

combination, confederation or understanding with any other corporation, partnership,