Montana § 32-1-420 Investment By Trust Fiduciary In Management Investment Company Or Investment Trust

Montana Statutes

§ 32-1-420 — Investment By Trust Fiduciary In Management Investment Company Or Investment Trust

Montana § 32-1-420

Title 32FINANCIAL INSTITUTIONS

Ch. 1BANKS AND TRUST COMPANIES

Part 4Operation and Regulation

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Bluebook

Mont. Code Ann. § 32-1-420 (2026).

Text

32-1-420 . Investment by trust fiduciary in management investment company or investment trust.

(1)In the absence of an express prohibition in a trust instrument, a trust company fiduciary or the trust division of a financial institution, whether organized under state or federal law, may acquire and retain, invest, and reinvest fiduciary funds in the securities of or other interests in an open-end or closed-end management investment company or investment trust registered under 15 U.S.C. 80a-1 through 80a-64.

(2)The investments authorized in subsection (1) may be made even if the fiduciary or an affiliate of the fiduciary is providing services to a management investment company or investment trust and is receiving compensation as an investment adviser or manager, sponsor, broker, distribut

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32-1-420 . Investment by trust fiduciary in management investment company or investment trust. (1) In the absence of an express prohibition in a trust instrument, a trust company fiduciary or the trust division of a financial institution, whether organized under state or federal law, may acquire and retain, invest, and reinvest fiduciary funds in the securities of or other interests in an open-end or closed-end management investment company or investment trust registered under 15 U.S.C. 80a-1 through 80a-64.
(2) The investments authorized in subsection (1) may be made even if the fiduciary or an affiliate of the fiduciary is providing services to a management investment company or investment trust and is receiving compensation as an investment adviser or manager, sponsor, broker, distributor, custodian, transfer agent, or registrar or for a similar service. The fiduciary shall disclose to all current income beneficiaries of the trust the rate, formula, and method of compensation for the services provided.