The bill aims to revise cooperative laws in Montana by establishing rights, exemptions, and privileges for out-of-state cooperative associations. It amends several sections of the Montana Code Annotated (MCA) to include definitions and provisions that recognize out-of-state entities authorized to transact business in Montana. Notably, it allows these out-of-state cooperatives to be treated similarly to local cooperatives, provided they comply with the relevant state laws. The bill also clarifies that associations organized under the cooperative laws may be for-profit or not-for-profit, and it updates the requirements for articles of incorporation to include the jurisdiction of formation for out-of-state entities.

Additionally, the bill mandates that the Secretary of State notify federally recognized tribal governments in Montana about the new legislation. The amendments include specific legal language that outlines the rights of out-of-state associations and the conditions under which they can operate within Montana. The bill emphasizes the importance of compliance with state regulations while expanding the scope of cooperative associations to include those from other jurisdictions, thereby enhancing the cooperative framework in Montana.

Statutes affected:
LC Text: 2-15-401, 35-17-103, 35-17-104, 35-17-202
SB0200_1: 2-15-401, 35-17-103, 35-17-104, 35-17-202
SB0200_1(1): 2-15-401, 35-17-103, 35-17-104, 35-17-202