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2019 Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 9. Montana Close Corporation Act
Part 3. Regulation and Operation
35-9-306. Limited liability
Universal Citation: MT Code § 35-9-306 (2019)
35-9-306. Limited liability. The failure of a statutory close corporation to observe the usual corporate formalities or requirements relating to the exercise of its corporate powers or management of its business and affairs is not a ground for imposing personal liability on the shareholders for liabilities of the corporation.
History: En. Sec. 17, Ch. 432, L. 1987.
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