35-14-631. Corporation's acquisition of its own shares. (1) A corporation may acquire its own shares, and shares so acquired constitute authorized but unissued shares.
(2) If the articles of incorporation prohibit the reissue of the acquired shares, the number of authorized shares is reduced by the number of shares acquired.
History: En. Sec. 59, 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