Montana Code 27-28-102. When proceeding may be brought against a corporation for misconduct
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27-28-102. When proceeding may be brought against a corporation for misconduct. A like action may be brought against a corporation when it has:
Terms Used In Montana Code 27-28-102
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(1)offended against a provision of an act for its creation or renewal or any act altering or amending such acts;
(2)forfeited its privileges and franchises by nonuser;
(3)committed or omitted an act which amounts to a surrender of its corporate rights, privileges, and franchises;
(4)misused a franchise or privilege conferred upon it by law or exercised a franchise or privilege not so conferred.