Montana legislation · 2025 Regular Session
Montana HB530: Generally revise business laws
Status: Signed into law, May 5, 2025
What the bill says
An act generally revising business laws; allowing for domestication of limited liability companies, professional limited liability companies, limited liability partnerships, professional limited liability partnerships, benefit corporations, and nonprofit corporations; providing for a plan of domestication; providing for approval of domestication; providing for amendment or abandonment of a plan for domestication; providing for articles of domestication; providing definitions; providing for nonexclusivity; and providing for references to external facts.
From the engrossed text:
AN ACT GENERALLY REVISING BUSINESS LAWS; ALLOWING FOR DOMESTICATION OF LIMITED LIABILITY COMPANIES, PROFESSIONAL LIMITED LIABILITY COMPANIES, LIMITED LIABILITY PARTNERSHIPS, PROFESSIONAL LIMITED LIABILITY PARTNERSHIPS, BENEFIT CORPORATIONS, AND NONPROFIT CORPORATIONS; PROVIDING FOR A PLAN OF DOMESTICATION; PROVIDING FOR APPROVAL OF DOMESTICATION; PROVIDING FOR AMENDMENT OR ABANDONMENT OF A PLAN FOR DOMESTICATION; PROVIDING FOR ARTICLES OF DOMESTICATION; PROVIDING DEFINITIONS; PROVIDING FOR NONEXCLUSIVITY; AND PROVIDING FOR REFERENCES TO EXTERNAL FACTS. Section 1. Definitions. As used in [sections 1 through 9], the following definitions apply: (1) "Domestic", with respect to an entity, means governed as to its internal affairs by the law of this state. (2) "Domesticated entity" means the domesticating entity as it continues in existence after a domestication. (3) "Domesticating entity" means the domestic entity that approves a plan of domestication pursuant to [section 3] or the foreign entity that approves a domestication pursuant to the law of its jurisdiction of formation. (4) "Domestication" means a transaction authorized by [section 2]. (5) "Entity" means a limited liability company, professional limited liability company, general partnership, limited liability partnership, professional limited liability partnership, limited partnership, limited liability limited partnership, benefit corporation, or nonprofit corporation. (6) "Filing entity" means an entity whose formation requires the filing of a public organic record. The term does not include a limited liability partnership. - 1 - Authorized Print …
Sponsors
- Fitzpatrick, Steve (R, 24) · primary sponsor
- Noland, Mark (R, 6)
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 10, 2025): 48 yea, 0 nay, passed
- Do Concur (April 9, 2025): 48 yea, 0 nay, passed
- Do Pass (March 5, 2025): 96 yea, 2 nay, passed
- Do Pass (March 4, 2025): 97 yea, 2 nay, passed
Subjects: Corporations
Common questions
- What is HB530?
- HB530 is a bill in the Montana Legislature (2025 Regular Session): Generally revise business laws.
- What does HB530 do?
- In its own words: An act generally revising business laws; allowing for domestication of limited liability companies, professional limited liability companies, limited liability partnerships, professional limited liability partnerships, benefit corporations, and nonprofit corporations; providing for a plan of domestication; providing for approval of domestication; providing for amendment or abandonment of a plan for domestication; providing for articles of domestication; providing definitions; providing for nonexclusivity; and providing for references to external facts.
- What is the status of HB530?
- Signed into law as of May 5, 2025. Latest action: Chapter Number Assigned (May 5, 2025).
- Who sponsored HB530?
- Fitzpatrick, Steve (R, 24), with 1 co-sponsor.
- Where is the official record for HB530?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC0195
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.