Montana § 27-28-505 - Powers And Duties Of Trustees -- Liability
Full text of Montana Montana Code Annotated § 27-28-505 — Powers And Duties Of Trustees -- Liability, with citation guidance and answers to common questions.
§ 27-28-505. Powers And Duties Of Trustees -- Liability
Powers and duties of trustees -- liability. (1) The trustees shall immediately demand all money, property, and papers within the custody or control of the officers of the corporation belonging to the corporation or in any way necessary for the settlement of its affairs or for the discharge of its debts and liabilities; and they may sue for and recover the demands and property of the corporation. (2) The trustees are jointly and severally liable to the creditors and stockholders of the corporation to the extent of its property and effects which come into their hands.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 27-28-505
What does Montana Code Annotated § 27-28-505 cover?
Section 27-28-505 ("Powers And Duties Of Trustees -- Liability") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 27-28-505?
A common citation format is "Montana Code Annotated § 27-28-505" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 27-28-505 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.