Montana Code Annotated 2019

TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 14. MONTANA BUSINESS CORPORATION ACT(Effective June 1, 2020)

Part 7. Shareholders(Effective June 1, 2020)

Definitions -- Derivative Proceedings

35-14-740. Definitions -- derivative proceedings. In 35-14-740 through 35-14-747, the following definitions apply:

(1) "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in 35-14-747, in the right of a foreign corporation.

(2) "Shareholder" means a record shareholder, a beneficial shareholder, and an unrestricted voting trust beneficial owner.

History: En. Sec. 83, Ch. 271, L. 2019.