{"data":{"id":"us-mt/35-14-146","jurisdiction":"us-mt","citation":"35-14-146","heading":"Defective corporate actions.","body":"(1) A defective corporate action is not void or voidable if ratified in accordance with 35-14-147 or validated in accordance with 35-14-152.\n(2) Ratification under 35-14-147 or validation under 35-14-152 may not be considered the exclusive means of ratifying or validating a defective corporate action, and the absence or failure of ratification in accordance with 35-14-145 through 35-14-152 does not, of itself, affect the validity or effectiveness of any corporate action properly ratified under common law or otherwise or create a presumption that any corporate action is or was a defective corporate action or is void or voidable.\n(3) In the case of an overissue, putative shares are valid shares effective as of the date originally issued or purportedly issued on:\n(a) the effectiveness under 35-14-145 through 35-14-152 and under part 10 of this chapter of an amendment to the articles of incorporation authorizing, designating, or creating the shares; or\n(b) the effectiveness of any other corporate action under 35-14-145 through 35-14-152 ratifying the authorization, designation, or creation of the shares.","path":["TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS","CHAPTER 14. MONTANA BUSINESS CORPORATION ACT","Part 1. General Provisions"],"source_url":"https://mca.legmt.gov/bills/mca/title_0350/chapter_0140/part_0010/section_0460/0350-0140-0010-0460.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:53:26Z","sha256":"ff0f364d80ddf0dbf46ac58de6695b723947c72965f5ae9665179914f985b0cd","source_id":"us-mt","stale":false,"prev":"us-mt/35-14-145","next":"us-mt/35-14-147"},"notice":"GroundRules: Original legal text. Not legal advice."}