Montana § 35-14-861 - Judicial Action
Full text of Montana Montana Code Annotated § 35-14-861 — Judicial Action, with citation guidance and answers to common questions.
§ 35-14-861. Judicial Action
Judicial action. (1) A transaction effected or proposed to be effected by the corporation or by an entity controlled by the corporation may not be the subject of equitable relief or give rise to an award of damages or other sanctions against a director of the corporation in a proceeding by a shareholder or by or in the right of the corporation on the ground that the director has an interest respecting the transaction if it is not a director's conflicting interest transaction. (2) A director's conflicting interest transaction may not be the subject of equitable relief or give rise to an award of damages or other sanctions against a director of the corporation in a proceeding by a shareholder or by or in the right of the corporation on the grounds that the director has an interest respecting the transaction if: (a) directors' action respecting the transaction was taken in compliance with 35-14-862 at any time; (b) shareholders' action respecting the transaction was taken in compliance with 35-14-863 at any time; or (c) the transaction, judged according to the circumstances at the relevant time, is established to have been fair to the corporation.
Frequently Asked Questions About Montana § 35-14-861
What does Montana Code Annotated § 35-14-861 cover?
Section 35-14-861 ("Judicial Action") 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 § 35-14-861?
A common citation format is "Montana Code Annotated § 35-14-861" (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 § 35-14-861 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.