Montana Code 35-12-1512. Action on plan of merger by constituent limited partners
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35-12-1512. Action on plan of merger by constituent limited partners. (1) Subject to 35-12-1515, a plan of merger must be consented to by all the partners of a constituent limited partnership.
Terms Used In Montana Code 35-12-1512
- Constituent limited partnership: means a constituent organization that is a limited partnership. See Montana Code 35-12-1501
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2)Subject to 35-12-1515 and any contractual rights, after a merger is approved and at any time before a filing is made under 35-12-1513, a constituent limited partnership may amend the plan or abandon the planned merger:
(a)as provided in the plan; and
(b)except as prohibited by the plan, with the same consent as was required to approve the plan.