{"data":{"id":"us-mt/35-14-602","jurisdiction":"us-mt","citation":"35-14-602","heading":"Terms of class or series -- determination by board of directors.","body":"(1) If the articles of incorporation so provide, the board of directors is authorized, without shareholder approval, to:\n(a) classify any unissued shares into one or more classes or into one or more series within a class;\n(b) reclassify any unissued shares of any class into one or more classes or into one or more series within one or more classes; or\n(c) reclassify any unissued shares of any series of any class into one or more classes or into one or more series within a class.\n(2) If the board of directors acts pursuant to subsection (1), it shall determine the terms, including the preferences, rights, and limitations, to the same extent permitted under 35-14-601, of:\n(a) any class of shares before the issuance of any shares of that class; or\n(b) any series within a class before the issuance of any shares of that series.\n(3) Before issuing any shares of a class or series created under this section, the corporation shall deliver to the secretary of state for filing articles of amendment setting forth the terms determined under subsection (2).","path":["TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS","CHAPTER 14. MONTANA BUSINESS CORPORATION ACT","Part 6. Shares and Distributions"],"source_url":"https://mca.legmt.gov/bills/mca/title_0350/chapter_0140/part_0060/section_0020/0350-0140-0060-0020.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:53:26Z","sha256":"07acae93e5717579c9688ceb22f92dbe7e207ae93e2c656a4d6365558cc51c6f","source_id":"us-mt","stale":false,"prev":"us-mt/35-14-601","next":"us-mt/35-14-603"},"notice":"GroundRules: Original legal text. Not legal advice."}