Montana legislation · 2025 Regular Session
Montana HB463: Revise business laws relating to conversion of certain business entities
Status: Signed into law, May 5, 2025
What the bill says
An act allowing a limited liability company to convert to a corporation or a limited liability partnership; providing requirements for a conversion; requiring all members to agree to the conversion; providing requirements for documents that must be submitted in writing; providing for the effective date of a the limited liability company conversion; providing definitions; and amending section 35-8-1205, mca.
From the engrossed text:
AN ACT ALLOWING A LIMITED LIABILITY COMPANY TO CONVERT TO A CORPORATION OR A LIMITED LIABILITY PARTNERSHIP; PROVIDING REQUIREMENTS FOR A CONVERSION; REQUIRING ALL MEMBERS TO AGREE TO THE CONVERSION; PROVIDING REQUIREMENTS FOR DOCUMENTS THAT MUST BE SUBMITTED IN WRITING; PROVIDING FOR THE EFFECTIVE DATE OF A THE LIMITED LIABILITY COMPANY CONVERSION; PROVIDING DEFINITIONS; AND AMENDING SECTION 35-8-1205, MCA. Section 1. Conversion of limited liability company to domestic corporation or limited liability partnership. (1) A limited liability company may be converted to a domestic corporation or a limited liability partnership pursuant to this section. (2) The plan of a conversion of a limited liability company to a domestic corporation or a limited liability partnership must be approved by all of the members or by a number or percentage of members required for conversion in the operating agreement. If as a result of the conversion one or more interest holders of the converting limited liability company would become subject to interest holder liability, approval of the plan of conversion must require the signing in connection with the transaction, by each affected interest holder, of a separate written consent to become subject to the interest holder liability. (3) A plan of conversion must be in writing and must: (a) set forth the terms and conditions of the conversion of the interests of …
Sponsors
- Fitzpatrick, Steve (R, 24) · primary sponsor
- Curdy, Willis (D, 49)
Latest actions
- : Chapter Number Assigned
- : (H) Signed by Governor
- : (H) Transmitted to Governor
- : (S) Signed by President
- : (H) Signed by Speaker
- : (H) Returned from Enrolling
- : (H) Sent to Enrolling
- : (S) 3rd Reading
- : (S) Scheduled for 3rd Reading
- : (S) 2nd Reading
Votes
- Do Concur (April 9, 2025): 49 yea, 0 nay, passed
- Do Concur (April 8, 2025): 48 yea, 0 nay, passed
- Do Pass (March 4, 2025): 99 yea, 0 nay, passed
- Do Pass As Amended (March 1, 2025): 96 yea, 1 nay, passed
- AMD-HB0463.002.001 Fitzpatrick S DO PASS (March 1, 2025): 98 yea, 0 nay, passed
Subjects: Economic Development
Common questions
- What is HB463?
- HB463 is a bill in the Montana Legislature (2025 Regular Session): Revise business laws relating to conversion of certain business entities.
- What does HB463 do?
- In its own words: An act allowing a limited liability company to convert to a corporation or a limited liability partnership; providing requirements for a conversion; requiring all members to agree to the conversion; providing requirements for documents that must be submitted in writing; providing for the effective date of a the limited liability company conversion; providing definitions; and amending section 35-8-1205, mca.
- What is the status of HB463?
- Signed into law as of May 5, 2025. Latest action: Chapter Number Assigned (May 5, 2025).
- Who sponsored HB463?
- Fitzpatrick, Steve (R, 24), with 1 co-sponsor.
- Where is the official record for HB463?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC2356
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.