Sections
Part 1 Formation § 35-20-101 – § 35-20-104
Part 2 Operations Generally — Trustees of Association § 35-20-201 – § 35-20-217
Part 3 Permanent Care and Improvement Fund Trustees of Fund § 35-20-301 – § 35-20-316

Terms Used In Montana Code > Title 35 > Chapter 20 - Cemetery Associations

  • 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.
  • Ex officio: Literally, by virtue of one's office.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grantor: The person who establishes a trust and places property into it.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
  • Quorum: The number of legislators that must be present to do business.
  • Sex: means the organization of the body parts and gametes for reproduction in human beings and other organisms. See Montana Code 1-1-201
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See Montana Code 1-1-201