Mont. Code Ann. » TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · CHAPTER 9. MONTANA CLOSE CORPORATION ACT · Part 3. Regulation and Operation
Montana Code Annotated

Mont. Code Ann. § 35-9-306 (2026)

Limited Liability

✓ current as of May 2026
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  1. MCA Contents
  2. TITLE 35
  3. CHAPTER 9
  4. Part 3
  5. 35-9-306 Limited liability

TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 9. MONTANA CLOSE CORPORATION ACT

Part 3. Regulation and Operation

Limited Liability

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.

Notes of Decisions
Cited in 1 case, 2003–2003 · leading case: Peschel Fam. Trust v. Colonna, 2003 MT 216 (Mont. 2003).
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Peschel Fam. Trust v. Colonna, 2003 MT 216 (Mont. 2003). · cites it 6× “That Act authorizes a corporation organized thereunder to operate without observing "the usual corporate formalities or requirements relating to the exercise of its corporate powers," such as a board of directors, bylaws and annual meetings, and the failure to observe such…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.