35-4-303. Proxies and voting trusts. No proxy for shares of a professional corporation is valid unless given to a qualified person. A voting trust for shares of a professional corporation is invalid unless all trustees and beneficiaries are qualified persons, except that a voting trust is valid for 10 months after the death of a deceased beneficiary or for 5 months after a beneficiary has become a disqualified person.
History: En. Sec. 18, Ch. 399, L. 1983.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 4. Montana Professional Corporation Act
Part 3. Shares and Shareholders
35-4-301. Issuance and transfer of shares
35-4-302. Corporation's right to acquire its own shares
35-4-303. Proxies and voting trusts
35-4-304. through 35-4-310 reserved