Terms Used In Montana Code > Title 35 > Chapter 14 > Part 9 - Domestication and Conversion

• 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.
• Appraisal: A determination of property value.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bequest: Property gifted by will.
• Contract: A legal written agreement that becomes binding when signed.
• Conversion: means a transaction pursuant to 35-14-930 through 35-14-935. See Montana Code 35-14-901
• Converted entity: means the converting entity as it continues in existence after a conversion. See Montana Code 35-14-901
• Converting entity: means the domestic corporation or eligible entity that approves a plan of conversion pursuant to 35-14-932 or the foreign eligible entity that approves a conversion pursuant to the organic law of the eligible entity. See Montana Code 35-14-901
• 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.
• Dependent: A person dependent for support upon another.
• Devise: To gift property by will.
• Domesticated corporation: means the domesticating corporation as it continues in existence after a domestication. See Montana Code 35-14-901
• Domesticating corporation: means the domestic corporation that approves a plan of domestication pursuant to 35-14-921 or the foreign corporation that approves a domestication pursuant to the organic law of the foreign corporation. See Montana Code 35-14-901
• Domestication: means a transaction pursuant to 35-14-920 through 35-14-924. See Montana Code 35-14-901
• enactment date: means the earliest date on which the laws of this state authorized a transaction having the effect of a domestication or a conversion, as applicable. See Montana Code 35-14-901
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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.
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Property: means real and personal property. See Montana Code 1-1-205
• Protected agreement: means :

  (a)a document evidencing indebtedness of a domestic corporation or eligible entity and any related agreement in effect immediately before the enactment date;

  (b)an agreement that is binding on a domestic corporation or eligible entity immediately before the enactment date;

  (c)the articles of incorporation or bylaws of a domestic corporation or the organic rules of a domestic eligible entity, in each case in effect immediately before the enactment date; or

  (d)an agreement that is binding on any of the shareholders, members, interest holders, directors, or other governors of a domestic corporation or eligible entity, in their official capacities, immediately before the enactment date. See Montana Code 35-14-901

• Quorum: The number of legislators that must be present to do business.
• Service of process: The service of writs or summonses to the appropriate party.
• 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
• subscription: includes the mark of a person who cannot write if the person's name is written near the mark by another person who also signs that person's own name as a witness. See Montana Code 1-1-203
• Writing: includes printing. See Montana Code 1-1-203