35-9-208. Court costs and other expenses. (1) The court in a proceeding commenced under 35-9-207 shall determine the total costs of the proceeding, including the reasonable compensation and expenses of appraisers appointed by the court and of counsel and experts employed by the parties. Except as provided in subsection (2), the court shall assess these costs equally against the corporation and the party exercising the compulsory purchase right.
(2) The court may assess all or a portion of the total costs of the proceeding:
(a) against the person exercising the compulsory purchase right if the court finds that the fair value of the shares does not substantially exceed the corporation's last purchase offer made before commencement of the proceeding and that the person's failure to accept the offer was arbitrary, vexatious, or otherwise not in good faith; or
(b) against the corporation if the court finds that the fair value of the shares substantially exceeds the corporation's last sale offer made before commencement of the proceeding and that the offer was arbitrary, vexatious, or otherwise not made in good faith.
History: En. Sec. 11, Ch. 432, L. 1987.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 9. Montana Close Corporation Act
Part 2. Share Transfer Restrictions
35-9-201. Notice of statutory close corporation status on issued shares
35-9-202. Share transfer prohibition
35-9-203. Share transfer after first refusal by corporation
35-9-204. Attempted share transfer in breach of prohibition
35-9-205. Compulsory purchase of shares after death of shareholder
35-9-206. Exercise of compulsory purchase right