35-14-603. Issued and outstanding shares. (1) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or canceled.
(2) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (3) and to 35-14-640.
(3) At all times that shares of the corporation are outstanding, one or more shares that together have full voting rights and one or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.
History: En. Sec. 48, Ch. 271, L. 2019.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 14. Montana Business Corporation Act
Part 6. Shares and Distributions
35-14-602. Terms of class or series -- determination by board of directors
35-14-603. Issued and outstanding shares
35-14-605. through 35-14-619 reserved
35-14-620. Subscription for shares -- before incorporation
35-14-622. Liability of shareholders
35-14-624. Share rights -- options -- warrants -- awards
35-14-625. Certificates -- form -- content
35-14-626. Shares without certificates
35-14-627. Restriction on transfer of shares
35-14-628. and 35-14-629 reserved
35-14-630. Preemptive rights -- shareholder
35-14-631. Corporation's acquisition of its own shares