Montana § 32-2-1007 Corporate Existence -- Cessation

Montana Statutes

§ 32-2-1007 — Corporate Existence -- Cessation

Montana § 32-2-1007

Title 32FINANCIAL INSTITUTIONS

Ch. 2MUTUAL SAVINGS AND LOAN ASSOCIATIONS

Part 10Dissolution, Closing, and Liquidation

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Bluebook

Mont. Code Ann. § 32-2-1007 (2026).

Text

32-2-1007 . Corporate existence -- cessation.

(1)The charters and the corporate existence of mutual associations cease automatically and become nonexistent upon the completion of liquidation of the affairs of the mutual association, whether accomplished voluntarily or through a legal process.

(2)For the purposes of this section, a mutual association's affairs are considered liquidated and completed when all of its property of every kind has been sold or applied toward the payment of its obligations and the corporation is left without property in existence or in reasonable expectancy.

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32-2-1007 . Corporate existence -- cessation. (1) The charters and the corporate existence of mutual associations cease automatically and become nonexistent upon the completion of liquidation of the affairs of the mutual association, whether accomplished voluntarily or through a legal process.
(2) For the purposes of this section, a mutual association's affairs are considered liquidated and completed when all of its property of every kind has been sold or applied toward the payment of its obligations and the corporation is left without property in existence or in reasonable expectancy.