Montana § 35-9-103 - Definition And Election Of Statutory Close Corporation Status
Full text of Montana Montana Code Annotated § 35-9-103 — Definition And Election Of Statutory Close Corporation Status, with citation guidance and answers to common questions.
§ 35-9-103. Definition And Election Of Statutory Close Corporation Status
Definition and election of statutory close corporation status. (1) A statutory close corporation is a corporation whose articles of incorporation contain a statement that the corporation is a statutory close corporation. (2) A corporation having 25 or fewer shareholders may become a statutory close corporation by amending its articles of incorporation to include the statement required by subsection (1). The amendment must be approved by the holders of at least two-thirds of the votes of each class or series of shares of the corporation, voting as separate voting groups, whether or not otherwise entitled to vote on amendments. If the amendment is adopted, a shareholder who voted against the amendment is entitled to assert appraisal rights under Title 35, chapter 14, part 13.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 35-9-103
What does Montana Code Annotated § 35-9-103 cover?
Section 35-9-103 ("Definition And Election Of Statutory Close Corporation Status") 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 § 35-9-103?
A common citation format is "Montana Code Annotated § 35-9-103" (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 § 35-9-103 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.