Montana Code 35-14-703. Court-ordered meeting
35-14-703. Court-ordered meeting. (1) The district court of the county where a corporation‘s principal office is located or, if its principal office is not located in this state, of the first judicial district may summarily order a meeting to be held:
Terms Used In Montana Code 35-14-703
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Quorum: The number of legislators that must be present to do business.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(a)on application of any shareholder of the corporation if an annual meeting was not held or action by written consent in lieu of an annual meeting did not become effective within the earlier of 6 months after the end of the corporation’s fiscal year or 15 months after its last annual meeting; or
(b)on application of one or more shareholders who signed a demand for a special meeting valid under 35-14-702 if:
(i)notice of the special meeting was not given within 30 days after the first day on which the requisite number of demands was delivered to the corporation; or
(ii)the special meeting was not held in accordance with the notice.
(2)The court may fix the time and place of the meeting, determine the shares entitled to participate in the meeting, specify a record date or dates for determining shareholders entitled to notice of and to vote at the meeting, prescribe the form and content of the meeting notice, fix the quorum required for specific matters to be considered at the meeting or direct that the shares represented at the meeting constitute a quorum for action on those matters, and enter other orders necessary to accomplish the purpose or purposes of the meeting.
(3)For purposes of subsection (1)(a), “shareholder” means a record shareholder, a beneficial shareholder, and an unrestricted voting trust beneficial owner.