Montana § 35-14-602 Terms Of Class Or Series -- Determination By Board Of Directors

Montana Statutes

§ 35-14-602 — Terms Of Class Or Series -- Determination By Board Of Directors

Montana § 35-14-602

Title 35CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Ch. 14MONTANA BUSINESS CORPORATION ACT

Part 6Shares and Distributions

This text of Montana § 35-14-602 (Terms Of Class Or Series -- Determination By Board Of Directors) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 35-14-602 (2026).

Text

35-14-602 . Terms of class or series -- determination by board of directors.

(1)If the articles of incorporation so provide, the board of directors is authorized, without shareholder approval, to:

(a)classify any unissued shares into one or more classes or into one or more series within a class;

(b)reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or

(c)reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.

(2)If the board of directors acts pursuant to subsection (1), it shall determine the terms, including the preferences, rights, and limitations, to the same extent permitted under 35-14-601 , of:

(a)any class of shares before the issuance

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35-14-602 . Terms of class or series -- determination by board of directors. (1) If the articles of incorporation so provide, the board of directors is authorized, without shareholder approval, to:
(a) classify any unissued shares into one or more classes or into one or more series within a class;
(b) reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or
(c) reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.
(2) If the board of directors acts pursuant to subsection (1), it shall determine the terms, including the preferences, rights, and limitations, to the same extent permitted under 35-14-601 , of:
(a) any class of shares before the issuance of any shares of that class; or
(b) any series within a class before the issuance of any shares of that series.
(3) Before issuing any shares of a class or series created under this section, the corporation shall deliver to the secretary of state for filing articles of amendment setting forth the terms determined under subsection (2).