Montana Code 35-14-902. Excluded transactions
35-14-902. Excluded transactions. (1) This part may not be used to effect a transaction that:
Terms Used In Montana Code 35-14-902
- Conversion: means a transaction pursuant to 35-14-930 through 35-14-935. See Montana Code 35-14-901
- 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.
(a)converts or domesticates a company organized on the mutual principle to one organized on the basis of share ownership;
(b)converts or domesticates banks and trust companies regulated under Title 32, chapter 1;
(c)converts or domesticates building and loan associations regulated under Title 32, chapter 2;
(d)converts or domesticates credit unions regulated under Title 32, chapter 3; or
(e)converts or domesticates insurance companies regulated under Title 33.
(2)The conversion of a domestic corporation to a domestic benefit corporation is governed by Title 35, chapter 1, part 14, and not by this part.