Montana Code 17-6-233. Voting ownership interests
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17-6-233. Voting ownership interests. (1) All shares held directly or indirectly by or on behalf of the board must be voted solely in the pecuniary interest of the beneficiaries of the funds.
Terms Used In Montana Code 17-6-233
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
(2)Voting to further nonpecuniary, environmental, social, governance, or other similarly oriented considerations is prohibited.
(3)The board may not follow the recommendations of a proxy advisory firm or other service providers unless the firm or service provider commits to follow proxy voting guidelines that are consistent with the board’s obligation to act based solely on pecuniary factors unless no economically practicable alternative is available.