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Mont. Code Ann. § 35-14-622

Liability of shareholders

Known as the Montana Business Corporation Act

The act spans §§ 35–35 (243 sections).

En

(1) A purchaser from a corporation of the corporation's own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued or specified in the subscription agreement.

(2) A shareholder of a corporation is not personally liable for any liabilities of the corporation, including liabilities arising from acts of the corporation, except:

(a) to the extent provided in a provision of the articles of incorporation permitted by 35-14-202 (2)(b)(v); and

(b) that a shareholder may become personally liable by reason of the shareholder's own acts or conduct.

Official source: Montana Code Annotated (Montana Legislature). Reproduced from public-domain Montana statutes; confirm against the official source for the current text. Not legal advice.