§ 35-2-1401 Prohibited distributions — permitted transactions
§ 35-2-1402 Authorized distributions
non profit

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Terms Used In Montana Code > Title 35 > Chapter 2 > Part 14 - Distributions

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • 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

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Usual: means according to usage. See Montana Code 1-1-206