35-14-626. Shares without certificates. (1) Unless the articles of incorporation or bylaws provide otherwise, the board of directors of a corporation may authorize the issuance of some or all of the shares of any or all of its classes or series without certificates. The authorization does not affect shares already represented by certificates until they are surrendered to the corporation.
(2) Within a reasonable time after the issuance or transfer of shares without certificates, the corporation shall deliver to the shareholder a written statement of the information required on certificates by 35-14-625(2) and (3) and, if applicable, 35-14-627.
History: En. Sec. 56, 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