Montana Code > Title 37 > Chapter 68 > Part 1

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.
Customary: means according to usage. See Montana Code 1-1-206
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.
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
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

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