{"data":{"id":"us-mt/35-15-402","jurisdiction":"us-mt","citation":"35-15-402","heading":"Forfeiture of stock for nonpayment -- reissuance.","body":"Forfeiture of the stock for nonpayment of installments may be provided for in the bylaws, and whenever a share of stock is forfeited, such share shall become the property of the association and may be reissued to any person already a holder of common stock; but any proceeds received by the association from such reissue, over and above the amount due on said share, shall be paid to the delinquent shareholder.","path":["TITLE 35. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS","CHAPTER 15. COOPERATIVE ASSOCIATIONS","Part 4. Shares, Dividends, and Distributions"],"source_url":"https://mca.legmt.gov/bills/mca/title_0350/chapter_0150/part_0040/section_0020/0350-0150-0040-0020.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:53:31Z","sha256":"e28c53aa7ecca4bd174409ec9b3bac4a158b71e6d412038ad5f14a6922024fb9","source_id":"us-mt","stale":false,"prev":"us-mt/35-15-401","next":"us-mt/35-15-403"},"notice":"GroundRules: Original legal text. Not legal advice."}