Montana § 35-15-503 Meeting To Consider Plan -- Notice

Montana Statutes

§ 35-15-503 — Meeting To Consider Plan -- Notice

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 15 COOPERATIVE ASSOCIATIONS·Part 5 Merger, Consolidation, and Sale of Assets

35-15-503 . Meeting to consider plan -- notice.

(1)Notice of the proposed plan and, in the case of consolidation, of the proposed new articles must be mailed or sent by electronic means to each stockholder of the associations to be affected by the proposed plan or the proposed new articles.

(2)The notice must advise the stockholders of each association of the time and place each association shall meet, at which time the proposal must be considered and voted on by each association. The meetings must be held not less than 30 or more than 60 days after the mailing of notice. The plan must be considered adopted if a quorum is present and two-thirds of those voting vote in its favor.

Free access — add to your briefcase to read the full text and ask questions with AI

35-15-503 . Meeting to consider plan -- notice. (1) Notice of the proposed plan and, in the case of consolidation, of the proposed new articles must be mailed or sent by electronic means to each stockholder of the associations to be affected by the proposed plan or the proposed new articles.
(2) The notice must advise the stockholders of each association of the time and place each association shall meet, at which time the proposal must be considered and voted on by each association. The meetings must be held not less than 30 or more than 60 days after the mailing of notice. The plan must be considered adopted if a quorum is present and two-thirds of those voting vote in its favor.

Montana § 35-15-503 (Meeting To Consider Plan -- Notice) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

En. Sec. 1, Ch. 140, L. 1917; re-en. Sec. 6390, R.C.M. 1921; re-en. Sec. 6390, R.C.M. 1935; amd. Sec. 2, Ch. 342, L. 1973; R.C.M. 1947, 14-216(2), (3); amd. Sec. 6, Ch. 277, L. 2023.