Montana § 30-14-701 Mining And Oil Companies -- Fraudulent Handling Of Finances

Montana Statutes

§ 30-14-701 — Mining And Oil Companies -- Fraudulent Handling Of Finances

Montana § 30-14-701

Title 30TRADE AND COMMERCE

Ch. 14UNFAIR TRADE PRACTICES AND CONSUMER PROTECTION

Part 7Fraudulent Financing of Mining and Oil Companies

This text of Montana § 30-14-701 (Mining And Oil Companies -- Fraudulent Handling Of Finances) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-14-701 (2026).

Text

30-14-701 . Mining and oil companies -- fraudulent handling of finances. For the purposes of 30-14-701 through 30-14-704 , the following acts and offenses relative to the handling of the finances of mine and oil operations within the state of Montana shall be deemed fraudulent:

(1)failure to expend at least 75% of all money raised from the public from the sale of stock or securities of any other kind or character in the actual operation and development of the oil and mining property or in the construction of treating plants or from bona fide payments on the purchase price of state property;

(2)failure to apply net earnings from said operations, after deducting only reasonable and legitimate expenses, to either a reserve fund, distribution of dividends, liquidation of bona fide indebtedne

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30-14-701 . Mining and oil companies -- fraudulent handling of finances. For the purposes of 30-14-701 through 30-14-704 , the following acts and offenses relative to the handling of the finances of mine and oil operations within the state of Montana shall be deemed fraudulent:
(1) failure to expend at least 75% of all money raised from the public from the sale of stock or securities of any other kind or character in the actual operation and development of the oil and mining property or in the construction of treating plants or from bona fide payments on the purchase price of state property;
(2) failure to apply net earnings from said operations, after deducting only reasonable and legitimate expenses, to either a reserve fund, distribution of dividends, liquidation of bona fide indebtedness, or reasonable development of said properties;
(3) the operation of holding companies in such a manner as to deprive the stockholders of the parent company of an equitable interest in the earnings of the parent company.

Legislative History

En. Sec. 1, Ch. 199, L. 1935; re-en. Sec. 11458.1, R.C.M. 1935; Sec. 94-2322, R.C.M. 1947; redes. 15-22-141 by Sec. 29, Ch. 513, L. 1973; R.C.M. 1947, 15-22-141 .