Montana Statutes
§ 32-1-706 — Common Trust Funds Established
Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 1 BANKS AND TRUST COMPANIES·Part 7 Uniform Common Trust Act
32-1-706 . Common trust funds established. Each common trust fund established hereunder is a separate and distinct entity from the fiduciary relationships participating in the fund. No fiduciary, in administering a participating fiduciary relationship, may be required to make any apportionment or allocation between the principal and income of such relationship different from that made for the common trust fund. No such participating fiduciary relationship or person having an interest in the relationship may have or be considered to have any ownership in any particular property of the common trust fund; but each participating fiduciary relationship shall have a proportionate undivided interest in the fund and its income; and the ownership of all property of the common trust fund shall be in
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Legislative History
En. 5-1407 by Sec. 1, Ch. 271, L. 1977; R.C.M. 1947, 5-1407; amd. Sec. 2, 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Repealed§ 32-1-105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