This form is signed by and on behalf of the Unit Operator covering lands in which a Unit was formed and established by the Unit Agreement. Pursuant to the specified Article/Section of the Agreement, the purposes for which the Unit was established are no longer in effect and the parties to the Agreement (being the original Working Interest Owners in Tracts included in the Unit, or their successors) have elected to terminate the Agreement.
The Montana Certificate of Termination of Unit is an official document used in the state of Montana to legally dissolve a unit. This termination certificate is an important step in the process of winding up the affairs of an entity or a business unit. The Certificate of Termination of Unit serves as a formal notification to the Montana Secretary of State that the unit is no longer in operation and wishes to terminate its existence. It is a crucial document for ensuring that all legal and financial obligations are properly settled. The main purpose of the Certificate of Termination of Unit is to publicly declare the end of the unit's existence to avoid any confusion or liabilities associated with its activities. It is also essential for releasing the unit's officers, members, and shareholders from any legal responsibilities or obligations beyond the point of termination. Some key information that needs to be included in the Montana Certificate of Termination of Unit are: 1. Name and address of the unit: The legal name and physical address of the unit must be provided accurately in the termination certificate. 2. State ID or registration number: The unique identification number or registration number assigned to the unit by the Montana Secretary of State should be mentioned to ensure proper identification. 3. Effective date of termination: The date on which the unit wishes to terminate its existence should be clearly specified. It is essential to ensure all pending legal and financial matters are appropriately handled up until this date. 4. Signature: The Certificate of Termination of Unit must be signed by an authorized individual, such as a member, officer, or manager of the unit, affirming the accuracy of the information provided. There are different types of Montana Certificate of Termination of Unit: 1. Limited Liability Company (LLC) Termination: This type of termination certificate is specific to LCS. It signals the end of a limited liability company's existence in Montana. 2. Corporation Termination: This type of termination certificate is used when a corporation decides to dissolve its operations in Montana. It is commonly filed when the corporation is no longer active or desires to cease its existence. 3. Non-Profit Organization Termination: Non-profit organizations in Montana must file a specific Certificate of Termination of Unit when they decide to cease their activities. This type of termination ensures the proper closure of a non-profit entity and the fulfillment of any outstanding obligations. 4. Partnership Termination: Partnerships seeking to dissolve their operations in Montana need to file a Partnership Termination Certificate. This certificate officially ends the partnership and releases the partners from any future legal or financial obligations. In conclusion, the Montana Certificate of Termination of Unit is a crucial document used to end the existence of a business unit in the state. Whether it is an LLC, corporation, non-profit organization, or partnership, each type of unit has its own specific certificate required to properly terminate its operations.
