35-14-142. Number of shareholders. (1) For purposes of this chapter, the following, identified as a shareholder in a corporation‘s current record of shareholders, constitutes one shareholder:

Terms Used In Montana Code 35-14-142

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201

(a)three or fewer co-owners;

(b)a corporation, partnership, trust, estate, or other entity; and

(c)the trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or account.

(2)For purposes of this chapter, shareholdings registered in substantially similar names constitute one shareholder if it is reasonable to believe that the names represent the same person.