Montana § 35-8-1401 Definitions

Montana Statutes

§ 35-8-1401 — Definitions

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 8 MONTANA LIMITED LIABILITY COMPANY ACT·Part 14 Domestication

35-8-1401 . Definitions. As used in this part, the following definitions apply:

(1)"Domestic", with respect to an entity, means governed as to its internal affairs by the law of this state.

(2)"Domesticated entity" means the domesticating entity as it continues in existence after a domestication.

(3)"Domesticating entity" means the domestic entity that approves a plan of domestication pursuant to 35-8-1403 or the foreign entity that approves a domestication pursuant to the law of its jurisdiction of formation.

(4)"Domestication" means a transaction authorized by 35-8-1402 .

(5)"Entity" means a limited liability company, professional limited liability company, general partnership, limited liability partnership, professional limited liability partnership, limited partnership, limited li

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35-8-1401 . Definitions. As used in this part, the following definitions apply:
(1) "Domestic", with respect to an entity, means governed as to its internal affairs by the law of this state.
(2) "Domesticated entity" means the domesticating entity as it continues in existence after a domestication.
(3) "Domesticating entity" means the domestic entity that approves a plan of domestication pursuant to 35-8-1403 or the foreign entity that approves a domestication pursuant to the law of its jurisdiction of formation.
(4) "Domestication" means a transaction authorized by 35-8-1402 .
(5) "Entity" means a limited liability company, professional limited liability company, general partnership, limited liability partnership, professional limited liability partnership, limited partnership, limited liability limited partnership, benefit corporation, or nonprofit corporation.
(6) "Filing entity" means an entity whose formation requires the filing of a public organic record. The term does not include a limited liability partnership.
(7) "Foreign", with respect to an entity, means governed as to its internal affairs by the law of a jurisdiction other than this state.
(8) "Interest" means:
(a) a membership interest in a benefit corporation or a nonprofit corporation; and
(b) interest as defined in 35-14-140 for any other entity.
(9) "Interest holder" means a person who holds of record an interest.
(10) "Interest holder liability" has the same meaning as provided in 35-14-140 .
(11) "Jurisdiction", used to refer to a political entity, means the United States, a state, a tribal government, a foreign country, or a political subdivision of a foreign country.
(12) "Organic law" means the statute governing the internal affairs of a domestic or foreign entity.
(13) "Organic rules" means the public organic record and private organic rules of a domestic or foreign entity.
(14) "Plan of domestication" means a plan under 35-8-1403 .
(15) "Private organic rules" has the same meaning as provided in 35-14-140 .
(16) "Public organic record" has the same meaning as provided in 35-14-140 .
(17) "Record", used as a noun, means information that is inscribed on a tangible medium that is stored in an electronic or other medium and is retrievable in perceivable form.
(18) "Registered foreign entity" means a foreign entity that is registered to do business in this state pursuant to the applicable organic laws of this state.
(19) "Type of entity" has the same meaning as provided in 35-14-140 .