Montana Code 32-1-104. Number of persons necessary to form corporation
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32-1-104. Number of persons necessary to form corporation. Corporations may be formed by any number of natural persons or by a corporation or other entity authorized to own or control banks and organized under the laws of this state to conduct, as provided in this chapter, the businesses mentioned in 32-1-102.
Terms Used In Montana Code 32-1-104
- Control: means :
(a)ownership of, authority over, or power to vote, directly or indirectly, 25% or more of any class of voting security;
(b)authority in any manner over the election of a majority of directors; or
(c)power to exercise, directly or indirectly, a controlling influence over management and policies. See Montana Code 32-1-109
- 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.
- 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