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.
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