reglab/housing_qa huggingface dataset:
MT Code § 35-14-707 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-707. Record date for meeting

  35-14-707. Record date for meeting. (1) The bylaws may fix or provide the manner of fixing the record date or dates for one or more voting groups to determine the shareholders entitled to notice of a shareholders' meeting, to demand a special meeting, to vote, or to take any other action. If the bylaws do not fix or provide for fixing a record date, the board of directors may fix the record date.   (2) A record date fixed under this section may not be more than 70 days before the meeting or action requiring a determination of shareholders and may not be retroactive.   (3) A determination of shareholders entitled to notice of or to vote at a shareholders' meeting is effective for any adjournment of the meeting unless the board of directors fixes a new record date or dates, which it shall do if the meeting is adjourned to a date more than 120 days after the date fixed for the original meeting.   (4) If a court orders a meeting adjourned to a date more than 120 days after the date fixed for the original meeting, it may provide that the original record date or dates continue in effect or it may fix a new record date or dates.   (5) The record dates for a shareholders' meeting fixed by or in the manner provided in the bylaws or by the board of directors is the record date for determining shareholders entitled both to notice of and to vote at the shareholders' meeting unless, in the case of a record date fixed by the board of directors and to the extent not prohibited by the bylaws, the board, at the time it fixes the record date for shareholders entitled to notice of the meeting, fixes a later record date on or before the date of the meeting to determine the shareholders entitled to vote at the meeting.   History: En. Sec. 67, Ch. 271, L. 2019.
MT Code § 35-14-708 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-708. Conduct of meeting

  35-14-708. Conduct of meeting. (1) At each meeting of shareholders, a chair shall preside. The chair must be appointed as provided in the bylaws or, in the absence of that provision, by the board of directors.   (2) The chair, unless the articles of incorporation or bylaws provide otherwise, shall determine the order of business and may establish rules for the conduct of the meeting.   (3) Rules adopted for the meeting and the conduct of the meeting must be fair to shareholders.   (4) The chair of the meeting shall announce at the meeting when the polls close for each matter voted on. If no announcement is made, the polls are considered to have closed on the final adjournment of the meeting. After the polls close, no ballots, proxies, or votes and no revocations or changes to ballots, proxies, or votes may be accepted.   History: En. Sec. 68, Ch. 271, L. 2019.
MT Code § 35-14-709 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-709. Remote participation -- shareholder's meetings

  35-14-709. Remote participation -- shareholder's meetings. (1) Shareholders of any class or series of shares may participate in any meeting of shareholders by means of remote communication to the extent the board of directors authorizes the participation for that class or series. Participation as a shareholder by means of remote communication is subject to guidelines and procedures the board of directors adopts and must be in conformity with subsection (2).  (2) Shareholders participating in a shareholders' meeting by means of remote communication are considered present and may vote at the meeting if the corporation has implemented reasonable measures:   (a) to verify that each person participating remotely as a shareholder is a shareholder; and   (b) to provide those shareholders a reasonable opportunity to participate in the meeting and to vote on matters submitted to the shareholders, including an opportunity to communicate and to read or hear the proceedings of the meeting substantially concurrently with the proceedings.   (3) Unless the bylaws require the meeting of shareholders to be held at a place, the board of directors may determine that any meeting of shareholders may not be held at any place and must instead be held solely by means of remote communication, but only if the corporation implements the measures specified in subsection (1).   History: En. Sec. 69, Ch. 271, L. 2019; amd. Sec. 5, Ch. 34, L. 2021.
MT Code § 35-14-710 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-710. through 35-14-719 reserved

  35-14-710 through 35-14-719 reserved.
MT Code § 35-14-721 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-721. Voting entitlements of shares

  35-14-721. Voting entitlements of shares. (1) Except as provided in subsections (2) and (4) or unless the articles of incorporation provide otherwise, each outstanding share, regardless of class or series, is entitled to one vote on each matter voted on at a shareholders' meeting. Only shares are entitled to vote.   (2) Shares of a corporation are not entitled to vote if they are owned by or otherwise belong to the corporation:   (a) directly; or   (b) indirectly through an entity of which a majority of the voting power is held directly or indirectly by the corporation or that is otherwise controlled by the corporation.   (3) Shares held by the corporation in a fiduciary capacity for the benefit of any person are entitled to vote unless they are held for the benefit of or otherwise belong to the corporation:   (a) directly; or   (b) indirectly through an entity of which a majority of the voting power is held directly or indirectly by the corporation or that is otherwise controlled by the corporation.   (4) Redeemable shares are not entitled to vote after delivery of written notice of redemption is effective and a sum sufficient to redeem the shares has been deposited with a bank, trust company, or other financial institution under an irrevocable obligation to pay the holders the redemption price on surrender of the shares.   (5) For purposes of this section, "voting power" means the current power to vote in the election of directors of a corporation or to elect, select, or appoint governors of another entity.   History: En. Sec. 71, Ch. 271, L. 2019.
MT Code § 35-14-722 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-722. Proxies

  35-14-722. Proxies. (1) A shareholder may vote the shareholder's shares in person or by proxy.   (2) A shareholder or the shareholder's agent or attorney-in-fact may appoint a proxy to vote or otherwise act for the shareholder by signing an appointment form or by an electronic transmission. An electronic transmission must contain or be accompanied by information from which the recipient can determine the date of the transmission and that the transmission was authorized by the sender or the sender's agent or attorney-in-fact.   (3) An appointment of a proxy is effective when a signed appointment form or an electronic transmission of the appointment is received by the inspector of election or the officer or agent of the corporation authorized to tabulate votes. An appointment is valid for the term provided in the appointment form and, if no term is provided, is valid for 11 months unless the appointment is irrevocable under subsection (4).   (4) An appointment of a proxy is revocable unless the appointment form or electronic transmission states that it is irrevocable and the appointment is coupled with an interest. Appointments coupled with an interest include the appointment of:   (a) a pledgee;   (b) a person who purchased or agreed to purchase the shares;   (c) a creditor of the corporation who extended it credit under terms requiring the appointment;   (d) an employee of the corporation whose employment contract requires the appointment; and   (e) a party to a voting agreement created under 35-14-731.   (5) The death or incapacity of the shareholder appointing a proxy does not affect the right of the corporation to accept the proxy's authority unless notice of the death or incapacity is received by the secretary or other officer or agent authorized to tabulate votes before the proxy exercises authority under the appointment.   (6) An appointment made irrevocable under subsection (4) is revoked when the interest with which it is coupled is extinguished.   (7) Unless it provides otherwise, an appointment made irrevocable under subsection (4) continues in effect after a transfer of the shares and after a transferee takes subject to the appointment, except that a transferee for value of shares subject to an irrevocable appointment may revoke the appointment if the transferee did not know of its existence when acquiring the shares and the existence of the irrevocable appointment was not noted conspicuously on the certificate representing the shares or on the information statement for shares without certificates.   (8) Subject to 35-14-724 and to any express limitation on the proxy's authority stated in the appointment form or electronic transmission, a corporation is entitled to accept the proxy's vote or other action as that of the shareholder making the appointment.   History: En. Sec. 72, Ch. 271, L. 2019.
MT Code § 35-14-723 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-723. Shares held by intermediaries and nominees

  35-14-723. Shares held by intermediaries and nominees. (1) A corporation's board of directors may establish a procedure under which a person on whose behalf shares are registered in the name of an intermediary or nominee may elect to be treated by the corporation as the record shareholder by filing with the corporation a beneficial ownership certificate. The terms, conditions, and limitations of this treatment must be specified in the procedure. To the extent a person is treated under the procedure as having rights or privileges that the record shareholder otherwise would have, the record shareholder does not have those rights or privileges.   (2) The procedure must specify:   (a) the types of intermediaries or nominees to which it applies;   (b) the rights or privileges that the corporation recognizes in a person with respect to whom a beneficial ownership certificate is filed;   (c) the manner in which the procedure is selected, which must include that the beneficial ownership certificate must be signed or assented to by or on behalf of the record shareholder and the person on whose behalf the shares are held;   (d) the information that must be provided when the procedure is selected;   (e) the period for which selection of the procedure is effective;   (f) requirements for notice to the corporation with respect to the arrangement; and   (g) the form and contents of the beneficial ownership certificate.   (3) The procedure may specify any other aspects of the rights and duties created by the filing of a beneficial ownership certificate.   History: En. Sec. 73, Ch. 271, L. 2019.
MT Code § 35-14-725 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-725. Quorum and voting requirements -- voting groups

  35-14-725. Quorum and voting requirements -- voting groups. (1) Shares entitled to vote as a separate voting group may take action on a matter at a meeting only if a quorum of those shares exists with respect to that matter. Unless the articles of incorporation provide otherwise, shares representing a majority of the votes entitled to be cast on the matter by the voting group constitute a quorum of that voting group for action on that matter. When this chapter requires a particular quorum for a specified action, the articles of incorporation may not provide for a lower quorum.   (2) Once a share is represented for any purpose at a meeting, it is considered present for quorum purposes for the remainder of the meeting and for any adjournment of that meeting unless a new record date is or must be fixed for that adjourned meeting.   (3) If a quorum exists, action on a matter, other than the election of directors, by a voting group is approved if the votes cast within the voting group favoring the action exceed the votes cast opposing the action unless the articles of incorporation or this chapter requires a greater number of affirmative votes.   (4) An amendment of the articles of incorporation adding, changing, or deleting a quorum or voting requirement for a voting group greater than specified in subsection (1) or (3) is governed by 35-14-727.   (5) The election of directors is governed by 35-14-728.   (6) When a provision of this chapter provides for voting of classes or series as separate voting groups, the rules provided in 35-14-1004 for amendments of the articles of incorporation apply to that provision.   History: En. Sec. 75, Ch. 271, L. 2019.
MT Code § 35-14-726 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-726. Action by single and multiple voting groups

  35-14-726. Action by single and multiple voting groups. (1) If the articles of incorporation or this chapter provides for voting by a single voting group on a matter, action on that matter is taken when it is voted on by that voting group as provided in 35-14-725.   (2) If the articles of incorporation or this chapter provides for voting by two or more voting groups on a matter, action on that matter is taken only when it is voted on by each of those voting groups counted separately as provided in 35-14-725. Action may be taken by different voting groups on a matter at different times.   History: En. Sec. 76, Ch. 271, L. 2019.
MT Code § 35-14-727 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-727. Modifying quorum or voting requirements

  35-14-727. Modifying quorum or voting requirements. An amendment to the articles of incorporation that adds, changes, or deletes a quorum or voting requirement must meet the same quorum requirement and be adopted by the same vote and voting groups required to take action under the quorum and voting requirements then in effect or proposed to be adopted, whichever is greater.   History: En. Sec. 77, Ch. 271, L. 2019.
MT Code § 35-14-728 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-728. Voting for directors -- cumulative voting

  35-14-728. Voting for directors -- cumulative voting. (1) Unless otherwise provided in the articles of incorporation, directors are elected by a plurality of the votes cast by the shares entitled to vote in the election at a meeting at which a quorum is present.   (2) Shareholders do not have a right to cumulate their votes for directors unless the articles of incorporation provide for that right.   (3) A statement included in the articles of incorporation that "[all] [a designated voting group of] shareholders are entitled to cumulate their votes for directors" or words of similar meaning means that the shareholders designated are entitled to multiply the number of votes they are entitled to cast by the number of directors for whom they are entitled to vote and to cast the product for a single candidate or distribute the product among two or more candidates.   (4) Shares otherwise entitled to vote cumulatively may not be voted cumulatively at a particular meeting unless:   (a) the meeting notice or proxy statement accompanying the notice states conspicuously that cumulative voting is authorized; or   (b) a shareholder who has the right to cumulate the shareholder's votes gives notice to the corporation not less than 48 hours before the time set for the meeting of the shareholder's intent to cumulate votes during the meeting. If one shareholder gives this notice, all other shareholders in the same voting group participating in the election are entitled to cumulate their votes without giving further notice.   History: En. Sec. 78, Ch. 271, L. 2019.
MT Code § 35-14-729 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-729. Inspectors of election

  35-14-729. Inspectors of election. (1) A corporation that has a class of equity securities registered pursuant to section 12 of the Securities Exchange Act of 1934 shall, and any other corporation may, appoint one or more inspectors to act at a meeting of shareholders in connection with determining voting results. Each inspector shall verify in writing that the inspector will faithfully execute the duties of inspector with strict impartiality and according to the best of the inspector's ability. An inspector may be an officer or employee of the corporation. The inspectors may appoint or retain other persons to assist the inspectors in the performance of the duties of inspector under subsection (2) and may rely on information provided by those and other persons, including those appointed to tabulate votes, unless the inspectors believe reliance is unwarranted.   (2) The inspectors shall:   (a) ascertain the number of shares outstanding and the voting power of each;   (b) determine the shares represented at a meeting;   (c) determine the validity of proxy appointments and ballots;   (d) count the votes; and   (e) make a written report of the results.   (3) In performing their duties, the inspectors may examine:   (a) the proxy appointment forms and any other information provided in accordance with 35-14-722(2);   (b) any envelope or related writing submitted with the proxy appointment forms;   (c) any ballots;   (d) any evidence or other information specified in 35-14-724; and   (e) the relevant books and records of the corporation relating to its shareholders and their entitlement to vote, including any securities position list provided by a depository clearing agency.   (4) The inspectors also may consider other information that they believe is relevant and reliable for the purpose of performing any of the duties assigned to them pursuant to subsection (2), including the purpose of evaluating inconsistent, incomplete, or erroneous information and reconciling information submitted on behalf of banks, brokers, their nominees, or similar persons that indicates more votes being cast than a proxy authorized by the record shareholder is entitled to cast. If the inspectors consider other information allowed by this subsection, they shall in their report under subsection (2) specify the information considered by them, including the purpose or purposes for which the information was considered, the person or persons from whom they obtained the information, when the information was obtained, the means by which the information was obtained, and the basis for the inspectors' belief that the information is relevant and reliable.   (5) Determinations of law by the inspectors of election are subject to de novo review by a court in a proceeding under 35-14-749 or other judicial proceeding.   History: En. Sec. 79, Ch. 271, L. 2019.
MT Code § 35-14-730 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-730. Voting trusts

  35-14-730. Voting trusts. (1) One or more shareholders may create a voting trust, conferring on a trustee the right to vote or otherwise act for them, by signing an agreement setting out the provisions of the trust, which may include anything consistent with its purpose, and transferring their shares to the trustee. When a voting trust agreement is signed, the trustee shall prepare a list of the names and addresses of all voting trust beneficial owners, together with the number and class of shares each transferred to the trust, and deliver copies of the list and agreement to the corporation at its principal office.   (2) A voting trust becomes effective on the date the first shares subject to the trust are registered in the trustee's name.   (3) Limits, if any, on the duration of a voting trust are as set forth in the voting trust. A voting trust that became effective prior to June 1, 2020, remains governed by the statute concerning duration then in effect unless the voting trust is amended to provide otherwise by unanimous agreement of the parties to the voting trust.   History: En. Sec. 80, Ch. 271, L. 2019.
MT Code § 35-14-731 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-731. Voting agreements

  35-14-731. Voting agreements. (1) Two or more shareholders may provide for the manner in which they will vote their shares by signing an agreement for that purpose. A voting agreement created under this section is not subject to the provisions of 35-14-730.   (2) A voting agreement created under this section is specifically enforceable.   History: En. Sec. 81, Ch. 271, L. 2019.
MT Code § 35-14-733 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-733. through 35-14-739 reserved

  35-14-733 through 35-14-739 reserved.
MT Code § 35-14-740 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-740. Definitions -- derivative proceedings

  35-14-740. Definitions -- derivative proceedings. In 35-14-740 through 35-14-747, the following definitions apply:   (1) "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in 35-14-747, in the right of a foreign corporation.   (2) "Shareholder" means a record shareholder, a beneficial shareholder, and an unrestricted voting trust beneficial owner.   History: En. Sec. 83, Ch. 271, L. 2019.
MT Code § 35-14-741 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-741. Standing

  35-14-741. Standing. A shareholder may not commence or maintain a derivative proceeding unless the shareholder:   (1) was a shareholder of the corporation at the time of the act or omission complained of or became a shareholder through transfer by operation of law from one who was a shareholder at that time; and   (2) fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.   History: En. Sec. 84, Ch. 271, L. 2019.
MT Code § 35-14-742 (2021)
2021 Montana Code Annotated|Title 35. Corporations, Partnerships, and Associations|Chapter 14. Montana Business Corporation Act|Part 7. Shareholders|35-14-742. Demand

  35-14-742. Demand. A shareholder may not commence a derivative proceeding until:   (1) a written demand has been made on the corporation to take suitable action; and   (2) 90 days have expired from the date delivery of the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless irreparable injury to the corporation would result by waiting for the expiration of the 90-day period.   History: En. Sec. 85, Ch. 271, L. 2019.