Mont. Code Ann. § 35-2-1301
This is the official text of Mont. Code Ann. § 35-2-1301, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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35-2-1301 Standing
Official statutory text
35-2-1301 . Standing. (1) For purposes of this part, "derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in 35-2-1307 , in the right of a foreign corporation.
(2) A derivative proceeding may be commenced or maintained by a complainant who is:
(a) a director at the time of the bringing of the proceeding; or
(b) a member or members having 5% or more of the voting power or by 50 members, whichever is less. Each member must be a member at the time of the proceeding, including the time of the complained act or omission.
(2) A derivative proceeding may be commenced or maintained by a complainant who is:
(a) a director at the time of the bringing of the proceeding; or
(b) a member or members having 5% or more of the voting power or by 50 members, whichever is less. Each member must be a member at the time of the proceeding, including the time of the complained act or omission.
Status: in_force · Read it on the official government site
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