Montana Code 35-17-103. Definitions and associations as nonprofit entities
35-17-103. Definitions and associations as nonprofit entities. (1) The term “agricultural products” includes horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and any farm products.
Terms Used In Montana Code 35-17-103
- 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.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(2)The term “association” means any corporation organized under this chapter.
(3)The term “member” means a person who has been qualified and accepted for membership in an association.
(4)The term “person” includes individuals, firms, partnerships, corporations, and associations.
(5)Associations organized under this chapter must be considered nonprofit because they are not organized to make profits for themselves or for their members, but only for their members as producers.