Montana § 27-28-504 Court Appointed Trustees To Settle Affairs Of Dissolved Corporation

Montana Statutes

§ 27-28-504 — Court Appointed Trustees To Settle Affairs Of Dissolved Corporation

Montana § 27-28-504

Title 27CIVIL LIABILITY, REMEDIES, AND LIMITATIONS

Ch. 28QUO WARRANTO

Part 5Actions Against Corporations

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Bluebook

Mont. Code Ann. § 27-28-504 (2026).

Text

27-28-504 . Court appointed trustees to settle affairs of dissolved corporation. The court rendering a judgment dissolving a corporation shall appoint trustees of the creditors and stockholders of the corporation, who, after giving an undertaking payable to the state, in such sum and with such sureties as the court may designate and approve, conditioned that they will faithfully discharge their trust and properly pay and apply all money that may come into their hands, shall have power to settle the affairs of the corporation, collect and pay outstanding debts, and divide among the stockholders the money and other property which remain after the payment of debts and necessary expenses.

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27-28-504 . Court appointed trustees to settle affairs of dissolved corporation. The court rendering a judgment dissolving a corporation shall appoint trustees of the creditors and stockholders of the corporation, who, after giving an undertaking payable to the state, in such sum and with such sureties as the court may designate and approve, conditioned that they will faithfully discharge their trust and properly pay and apply all money that may come into their hands, shall have power to settle the affairs of the corporation, collect and pay outstanding debts, and divide among the stockholders the money and other property which remain after the payment of debts and necessary expenses.

Legislative History

En. Sec. 1429, C. Civ. Proc. 1895; re-en. Sec. 6962, Rev. C. 1907; re-en. Sec. 9595, R.C.M. 1921; re-en. Sec. 9595, R.C.M. 1935; R.C.M. 1947, 93-6420.