Montana Code 35-14-740. Definitions — derivative proceedings
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35-14-740. Definitions — derivative proceedings. In 35-14-740 through 35-14-747, the following definitions apply:
Terms Used In Montana Code 35-14-740
- 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.
(1)”Derivative proceeding” means a civil suit in the right of a domestic corporation or, to the extent provided in 35-14-747, in the right of a foreign corporation.
(2)”Shareholder” means a record shareholder, a beneficial shareholder, and an unrestricted voting trust beneficial owner.