50-4-719. For-profit health entity. (1) A corporation that becomes a for-profit health entity under this part may not be considered to have abandoned its corporate status by virtue of a conversion transaction unless the conversion transaction provides specifically to the contrary.
(2) The certificate of authority, agent appointments, licenses, forms, and any other filings in existence at the time of a conversion transaction continue in full force and effect upon a conversion transaction if a corporation at all times remains qualified to engage in business in the state.
(3) All outstanding contracts of a transferor remain in full force and effect and need not be otherwise endorsed unless ordered by the commissioner.
History: En. Sec. 17, Ch. 214, L. 2005.
Structure Montana Code Annotated
Part 7. Conversion of Nonprofit Health Entity to For-Profit or Mutual Benefit Corporation
50-4-702. Conversion transaction -- approval
50-4-703. Rulemaking authority
50-4-705. and 50-4-706 reserved
50-4-707. Application process -- content
50-4-709. Receiving an application -- notice of application
50-4-713. Deadline for approval or nonapproval
50-4-714. Effect of determination
50-4-715. Criteria for attorney general approval of conversion transaction
50-4-716. Criteria for distribution of assets
50-4-717. Criteria for commissioner approval of conversion transaction