House Bill 898, effective May 13, 2025 and applicable retroactively to operating agreements in existence before May 13, 2025, amends the LLC law to provide that the terms of an operating agreement must be interpreted according to Title 28, chapter 3 (governing the interpretation of contracts in general) and to state that if there is an ambiguity in an operating agreement between construction in favor of maintaining the existence of an LLC or in favor the dissolution of an LLC, the operating agreement must be construed in favor of maintaining the existence of the LLC.
Senate Bill 307, effective October 1, 2023, provides that a state agency or state official may not impose any annual filing or reporting requirements on a any nonprofit corporation with tax-exempt status pursuant to 26 U.S.C. 501(c)(3), as of February 21, 2023, that are more stringent, restrictive, or expansive than the requirements authorized under Montana law.
Senate Bill 66, effective October 1, 2021, amends the corporation law regarding circumstances where notices to shareholders are not required, and to provide that 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 to verify that each person participating remotely as a shareholder is a shareholder and to provide those shareholders a reasonable opportunity to participate in the meeting and to vote on matters submitted to them.
Senate Bill 325 (Laws of 2019), effective June 1, 2020, enacts a new corporation law. The new Montana Business Corporation Act governs corporations incorporated or registered as a foreign corporation on or after June 1 and pre-existing domestic and registered foreign corporations. The old corporation law is repealed as of June 1, 2020. For more information on the new law see our article Montana Enacts a New Corporation Law.
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