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2020 Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 2. Nonprofit Corporations
Part 5. Members -- Delegates -- Voting
35-2-518. Creditor's action against member
Universal Citation: MT Code § 35-2-518 (2020)
35-2-518. Creditor's action against member. (1) A proceeding may not be brought by a creditor to reach the liability, if any, of a member to the corporation unless final judgment has been rendered in favor of the creditor against the corporation and execution has been returned unsatisfied in whole or in part or unless further proceeding would be useless.
(2) All creditors of the corporation, with or without reducing their claims to judgment, may intervene in any creditor's proceeding brought under subsection (1) to reach and apply unpaid amounts due the corporation. Any or all members who owe amounts to the corporation may be joined in the proceeding.
History: En. Sec. 46, Ch. 411, L. 1991.
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