Terms Used In Montana Code > Title 35 > Chapter 2 > Part 13 - Derivative Actions

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board of directors: means the board of directors except that a person or group of persons is not the board of directors because of powers delegated to that person or group pursuant to 35-2-414. See Montana Code 35-2-114
• Class: refers to a group of memberships that have the same rights with respect to voting, dissolution, redemption, and transfer. See Montana Code 35-2-114
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• 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.
• Corporation: means a public benefit corporation, mutual benefit corporation, or religious corporation. See Montana Code 35-2-114
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Directors: means individuals:

  (a)designated in the articles or bylaws or elected by the incorporators and their successors; and

  (b)elected or appointed by any other name or title to act as members of the board. See Montana Code 35-2-114

• 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.
• Member: means , without regard to what a person is called in the articles or bylaws, a person or persons who, on more than one occasion and pursuant to a provision of a corporation's articles or bylaws, have the right to vote for the election of a director or directors. See Montana Code 35-2-114
• Mutual benefit corporation: means a domestic corporation designated as a mutual benefit corporation. See Montana Code 35-2-114
• Notice: means that term as described in 35-2-115. See Montana Code 35-2-114
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Proceeding: includes a civil suit and a criminal, administrative, and investigatory action. See Montana Code 35-2-114
• Public benefit corporation: means a domestic corporation designated as a public benefit corporation. See Montana Code 35-2-114
• Quorum: The number of legislators that must be present to do business.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• voting: includes but is not limited to the giving of consent in the form of a record provided electronically or by written ballot and written consent. See Montana Code 35-2-114