Montana Code 35-2-227. Amendment pursuant to judicial reorganization
35-2-227. Amendment pursuant to judicial reorganization. (1) A corporation‘s articles may be amended without board approval, approval by the members, or approval required pursuant to 35-2-232 if necessary to carry out a plan of reorganization ordered or decreed by a court of competent jurisdiction under federal statute if the articles, after amendment, contain only provisions required or permitted by 35-2-213.
Terms Used In Montana Code 35-2-227
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- articles: include amended and restated articles of incorporation and articles of merger. See Montana Code 35-2-114
- 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.
- Corporation: means a public benefit corporation, mutual benefit corporation, or religious corporation. See Montana Code 35-2-114
- filing: means filed in the office of the secretary of state. See Montana Code 35-2-114
- Individual: includes the estate of an incompetent individual. See Montana Code 35-2-114
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Proceeding: includes a civil suit and a criminal, administrative, and investigatory action. See Montana Code 35-2-114
- Secretary: means the corporate officer to whom the board of directors has delegated responsibility under 35-2-439(2) for custody of the minutes of the directors' and members' meetings and for authenticating the records of the corporation. See Montana Code 35-2-114
- 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
- Statute: A law passed by a legislature.
(2)The individual or individuals designated by the court shall deliver to the secretary of state, for filing, articles of amendment setting forth:
(a)the name of the corporation;
(b)the text of each amendment approved by the court;
(c)the date of the court’s order or decree approving the articles of amendment;
(d)the title of the reorganization proceeding in which the order or decree was entered; and
(e)a statement that the court had jurisdiction of the proceeding under federal statute.
(3)This section does not apply after entry of a final decree in the reorganization proceeding even though the court retains jurisdiction of the proceeding for limited purposes unrelated to consummation of the reorganization plan.