Montana § 35-15-412 When Distribution Of Profits And Earnings To Be Made -- Dissolution For Failure To Pay Dividend For Five Years

Montana Statutes

§ 35-15-412 — When Distribution Of Profits And Earnings To Be Made -- Dissolution For Failure To Pay Dividend For Five Years

Montana § 35-15-412

Title 35CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Ch. 15COOPERATIVE ASSOCIATIONS

Part 4Shares, Dividends, and Distributions

This text of Montana § 35-15-412 (When Distribution Of Profits And Earnings To Be Made -- Dissolution For Failure To Pay Dividend For Five Years) 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. § 35-15-412 (2026).

Text

35-15-412 . When distribution of profits and earnings to be made -- dissolution for failure to pay dividend for five years.

(1)The profits or net earnings of such associations shall be distributed to those entitled thereto at such times as the bylaws shall prescribe, which shall be as often as once in 12 months.

(2)If such associations for 5 consecutive years shall fail to declare a dividend upon the shares of its paid-up capital, the holders of the majority of the par value of the issued and outstanding capital stock, by petition setting forth such fact, may apply to the district court of the county wherein is situated its principal place of business in this state for its dissolution. If upon hearing the allegations of the petition are found to be true, the court may adjudge a dissoluti

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35-15-412 . When distribution of profits and earnings to be made -- dissolution for failure to pay dividend for five years. (1) The profits or net earnings of such associations shall be distributed to those entitled thereto at such times as the bylaws shall prescribe, which shall be as often as once in 12 months.
(2) If such associations for 5 consecutive years shall fail to declare a dividend upon the shares of its paid-up capital, the holders of the majority of the par value of the issued and outstanding capital stock, by petition setting forth such fact, may apply to the district court of the county wherein is situated its principal place of business in this state for its dissolution. If upon hearing the allegations of the petition are found to be true, the court may adjudge a dissolution of the association.