Code · Montana · Title 35 — Corporations, Partnerships, and Associations · Chapter 2 · Part 13

35-2-1301. Standing.

105 words·~1 min read·/mt/title-35/chapter-2/part-13/35-2-1301

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

35-2-1301 . Standing.

(1)For purposes of this part, "derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in 35-2-1307 , in the right of a foreign corporation.

(2)A derivative proceeding may be commenced or maintained by a complainant who is:

(a)a director at the time of the bringing of the proceeding; or

(b)a member or members having 5% or more of the voting power or by 50 members, whichever is less. Each member must be a member at the time of the proceeding, including the time of the complained act or omission.