Montana Statutes
§ 33-4-201 — Eligible Incorporators
33-4-201 . Eligible incorporators.
(1)One hundred or more individuals residing in this state, each of whom is 18 years of age or more, who collectively own farm property as referred to in 33-4-501 (1)(a) valued at not less than $500,000 which they desire to insure, and each of whom owns farm lands or ranch lands situated in this state valued at not less than $5,000, may incorporate a state mutual insurer.
(2)Twenty-five or more individuals residing in this state, each of whom is 18 years or more of age, each of whom owns farm land or ranch land valued at $5,000 or more in the county wherein is to be located the principal office of the proposed insurer or in any county in this state contiguous with such county, and who collectively own in such counties farm property referred to in 33-4-50
Free access — add to your briefcase to read the full text and ask questions with AI
Montana § 33-4-201 (Eligible Incorporators) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 474, Ch. 286, L. 1959; amd. Sec. 8, Ch. 423, L. 1971; R.C.M. 1947, 40-4807.
Nearby Sections
15
§ 33-4-102
Definitions§ 33-4-103
Corporate Powers In General§ 33-4-201
Eligible Incorporators§ 33-4-205
Certified Copies Of Articles As Evidence§ 33-4-206
Initial Qualifications§ 33-4-301
Bylaws -- Adoption -- Power To Amend§ 33-4-302
Bylaws -- Contents§ 33-4-303
Bylaws Binding Upon Members§ 33-4-304
Annual Meetings Of Members -- Where Held§ 33-4-306
Adjourned Annual Meetings -- Notice