Montana Code 50-79-301. Definition
Current as of: 2023 | Check for updates
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50-79-301. Definition. Notwithstanding the definition in 50-79-103, as used in this part “person” means any individual, group, firm, partnership, corporation, cooperative, association, government subdivision, government agency, local government, or other organization or entity.
Terms Used In Montana Code 50-79-301
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.