§ 33-27-103

33-27-103. Definitions. As used in 15-30-2118, 15-31-117, 15-31-118, and this chapter, the following definitions apply: (1) 'Fiscal year' means the 12-month period used by a particular small business in preparing and filing its Montana individual income tax, corporate income tax, or alternative corporate income tax return. (2) 'Independent liability fund' means a collection of money, assets, and investments that has been set aside by a small business to meet the needs of any liability claims, except workers' compensation claims, brought against it by third parties. (3) 'Liability claim' means any legal or extralegal action by a third party asserting a right to compensation for a wrong done to it by a small business with an independent liability fund. (4) 'Small business' means any commercial or nonprofit enterprise qualified to do business in the state and qualified as a small business under the criteria established by the federal small business administration on April 20, 1987. (5) 'Third party' means a person other than an employee or the management of a small business or of a subsidiary or closely related enterprise of a small business. History: En. Sec. 3, Ch. 564, L.

7. (5) 'Third party' means a person other than an employee or the management of a small business or of a subsidiary or closely related enterprise of a small business. History: En. Sec. 3, Ch. 564, L. 1987; amd. Sec. 36, Ch. 268, L. 2013; amd. Sec. 52, Ch. 503, L. 2021.