Montana Code 32-4-301. Powers of stockholders
32-4-301. Powers of stockholders. (1) The stockholders of the corporation have the following powers of the corporation:
Terms Used In Montana Code 32-4-301
- 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.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(a)to determine the number of and elect directors as provided in 32-4-206;
(b)to make, amend, and repeal bylaws;
(c)to amend the articles of incorporation as provided in 32-4-205;
(d)to exercise other powers of the corporation as may be conferred on the stockholders by the bylaws.
(2)As to all matters requiring action by the stockholders of the corporation and except as otherwise provided in this chapter, the matters require the affirmative vote of a majority of the votes to which the stockholders present or represented at the meeting are entitled.
(3)Each stockholder has one vote, in person or by proxy, for each share of capital stock held by the stockholder.