Montana Statutes
§ 32-1-703 — Common Trust Fund Allowed
Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 1 BANKS AND TRUST COMPANIES·Part 7 Uniform Common Trust Act
32-1-703 . Common trust fund allowed.
(1)Any bank or trust company qualified to act as fiduciary in this state may establish and administer common trust funds composed of property permitted by law for the investment of trust funds for the purpose of furnishing investments to:
(a)itself as fiduciary;
(b)itself and others as cofiduciaries;
(c)any affiliated bank or trust company, including any foreign affiliated bank or trust company, as fiduciary;
(d)any affiliated bank or trust company, including any foreign affiliated bank or trust company, and others as cofiduciaries; or
(e)any combination of the entities listed in subsections (1)(a) through (1)(d).
(2)Any bank or trust company may, as that fiduciary or cofiduciary, invest funds which it lawfully holds for investment in interests
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Legislative History
En. Sec. 1, Ch. 64, L. 1955; amd. Sec. 68, Ch. 431, L. 1975; R.C.M. 1947, 5-1401; amd. Sec. 1, Ch. 213, L. 1981.
Nearby Sections
15
§ 32-1-1001
Definition Of Foreign Trust Company§ 32-1-1002
Appointment Of Foreign Trust Companies§ 32-1-1004
Service Of Process§ 32-1-1005
Bond§ 32-1-1006
Rights And Duties§ 32-1-1007
Solicitation Of Business§ 32-1-101
Short Title -- Application -- Purpose§ 32-1-103
Repealed§ 32-1-105
Commercial Bank Defined§ 32-1-106
Savings Bank Defined