Montana Statutes
§ 35-9-306 — Limited Liability
Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 9 MONTANA CLOSE CORPORATION ACT·Part 3 Regulation and Operation
35-9-306 . Limited liability. The failure of a statutory close corporation to observe the usual corporate formalities or requirements relating to the exercise of its corporate powers or management of its business and affairs is not a ground for imposing personal liability on the shareholders for liabilities of the corporation.
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Legislative History
En. Sec. 17, Ch. 432, L. 1987.
Nearby Sections
15
§ 35-9-101
Short Title§ 35-9-202
Share Transfer Prohibition§ 35-9-206
Exercise Of Compulsory Purchase Right§ 35-9-207
Court Action To Compel Purchase§ 35-9-208
Court Costs And Other Expenses§ 35-9-301
Shareholder Agreements§ 35-9-302
Elimination Of Board Of Directors§ 35-9-303
Bylaws§ 35-9-304
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