Montana legislation · 2025 Regular Session
Montana HB898: Generally revise laws related to LLC operating agreements
Status: Signed into law, May 19, 2025
What the bill says
An act generally revising laws relating to the interpretation of limited liability company operating agreements; providing clarification for ambiguity in the case of dissolution; providing an appropriation; amending sections 35-8-109 and 35-8-307, mca; and providing effective dates, a retroactive applicability date, and an applicability date.
From the engrossed text:
AN ACT GENERALLY REVISING LAWS RELATING TO THE INTERPRETATION OF LIMITED LIABILITY COMPANY OPERATING AGREEMENTS; PROVIDING CLARIFICATION FOR AMBIGUITY IN THE CASE OF DISSOLUTION; PROVIDING AN APPROPRIATION; AMENDING SECTIONS 35-8-109 AND 35-8-307, MCA; AND PROVIDING EFFECTIVE DATES, A RETROACTIVE APPLICABILITY DATE, AND AN APPLICABILITY DATE. Section 1. Section 35-8-109, MCA, is amended to read: "35-8-109. Effect of operating agreement -- nonwaivable provisions. (1) Except as provided in subsection (2) (3), all members of a limited liability company may enter into an operating agreement, which need not be in writing, to regulate the affairs of the company and the conduct of its business and to govern relations among the members, managers, and company. To the extent that the operating agreement does not otherwise provide, this chapter governs relations among the members, managers, and company. (2) The terms of an operating agreement must be interpreted according to Title 28, chapter 3. (2)(3) An operating agreement need not be in writing except as otherwise provided in this chapter (b) vary the rights of members to share in distributions under 35-8-601 or 35-8-903; or (c) vary the process for admission of members under 35-8-707. (3)(4) The operating agreement may (b) eliminate the duty of loyalty under 35-8-310, but the agreement may: (i) identify specific types or categories of activities that do not violate the …
Sponsors
- Tilleman, Eric (R, 23) · primary sponsor
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
- : (H) 3rd Reading Senate Amendments
- : (H) Scheduled for 3rd Reading
- : (H) 2nd Reading Senate Amendments
Votes
- Do Concur (April 25, 2025): 81 yea, 19 nay, passed
- Do Concur (April 24, 2025): 97 yea, 1 nay, passed
- Do Concur (April 18, 2025): 50 yea, 0 nay, passed
- Do Concur (April 17, 2025): 44 yea, 2 nay, passed
- Do Pass (April 5, 2025): 66 yea, 32 nay, passed
- Do Pass (April 4, 2025): 59 yea, 39 nay, passed
Subjects: Appropriations, Contracts, Corporations
Common questions
- What is HB898?
- HB898 is a bill in the Montana Legislature (2025 Regular Session): Generally revise laws related to LLC operating agreements.
- What does HB898 do?
- In its own words: An act generally revising laws relating to the interpretation of limited liability company operating agreements; providing clarification for ambiguity in the case of dissolution; providing an appropriation; amending sections 35-8-109 and 35-8-307, mca; and providing effective dates, a retroactive applicability date, and an applicability date.
- What is the status of HB898?
- Signed into law as of May 19, 2025. Latest action: Chapter Number Assigned (May 19, 2025).
- Who sponsored HB898?
- Tilleman, Eric (R, 23).
- Where is the official record for HB898?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC3626
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.