Montana § 35-2-1301 Standing

Montana Statutes

§ 35-2-1301 — Standing

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 2 NONPROFIT CORPORATIONS·Part 13 Derivative Actions

35-2-1301 . Standing.

(1)For purposes of this part, "derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in 35-2-1307 , in the right of a foreign corporation.

(2)A derivative proceeding may be commenced or maintained by a complainant who is:

(a)a director at the time of the bringing of the proceeding; or

(b)a member or members having 5% or more of the voting power or by 50 members, whichever is less. Each member must be a member at the time of the proceeding, including the time of the complained act or omission.

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35-2-1301 . Standing. (1) For purposes of this part, "derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in 35-2-1307 , in the right of a foreign corporation.
(2) A derivative proceeding may be commenced or maintained by a complainant who is:
(a) a director at the time of the bringing of the proceeding; or
(b) a member or members having 5% or more of the voting power or by 50 members, whichever is less. Each member must be a member at the time of the proceeding, including the time of the complained act or omission.

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