Montana Code 35-2-443. Contract rights of officers
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35-2-443. Contract rights of officers. (1) The appointment of an officer does not of itself create contract rights.
Terms Used In Montana Code 35-2-443
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Corporation: means a public benefit corporation, mutual benefit corporation, or religious corporation. See Montana Code 35-2-114
(2)An officer’s removal does not affect the officer’s contract rights, if any, with the corporation. An officer’s resignation does not affect the corporation‘s contract rights, if any, with the officer.