Montana § 35-14-1324 - Payment
Full text of Montana Montana Code Annotated § 35-14-1324 — Payment, with citation guidance and answers to common questions.
§ 35-14-1324. Payment
Payment. (1) Except as provided in 35-14-1325 , within 30 days after the form required by 35-14-1322 (2)(b)(ii) is due, the corporation shall pay in cash to those shareholders who complied with 35-14-1323 (1) the amount the corporation estimates to be the fair value of their shares, plus interest. (2) The payment to each shareholder pursuant to subsection (1) must be accompanied by: (a) (i) financial statements of the corporation that issued the shares to be appraised, consisting of a balance sheet as of the end of a fiscal year ending not more than 16 months before the date of payment, an income statement for that year, and a cash flow statement for that year or, if those annual financial statements are not reasonably available, reasonably equivalent financial information; and (ii) the latest interim financial statements of the corporation, if any; (b) a statement of the corporation's estimate of the fair value of the shares, which must equal or exceed the corporation's estimate given pursuant to 35-14-1322 (2)(b)(iii); and (c) a statement that shareholders described in subsection (1) of this section have the right to demand further payment under 35-14-1326 and that if any shareholder does not do so within the time period specified in 35-14-1326 (2), the shareholder is considered to have accepted the payment under subsection (1) of this section in full satisfaction of the corporation's obligations under this part.
Frequently Asked Questions About Montana § 35-14-1324
What does Montana Code Annotated § 35-14-1324 cover?
Section 35-14-1324 ("Payment") 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 § 35-14-1324?
A common citation format is "Montana Code Annotated § 35-14-1324" (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 § 35-14-1324 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.