Terms Used In Montana Code 35-2-514

• Approved by the members: means approved and ratified by the affirmative vote:

  (a)of a majority of the votes represented and voting:

  (i)at a meeting at which a quorum is present and the affirmative votes constitute a majority of the required quorum;

  (ii)by a written ballot or written consent in conformity with this chapter; or

  (iii)by the affirmative vote, written ballot, or written consent of the majority; and

  (b)that includes the votes of all the members of any class, unit, or grouping that may be required by the articles, bylaws, or this chapter for any specified member action. See Montana Code 35-2-114

• articles: include amended and restated articles of incorporation and articles of merger. See Montana Code 35-2-114
• Bylaws: means the code, codes, or rules, other than the articles, adopted pursuant to this chapter for the regulation or management of the affairs of the corporation, regardless of the name or names by which the code, codes, or rules are designated. 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
• Member: means , without regard to what a person is called in the articles or bylaws, a person or persons who, on more than one occasion and pursuant to a provision of a corporation's articles or bylaws, have the right to vote for the election of a director or directors. See Montana Code 35-2-114
• Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles, bylaws, and this chapter. See Montana Code 35-2-114