Montana § 7-15-4512 Security For Money Deposited By Housing Authority

Montana Statutes

§ 7-15-4512 — Security For Money Deposited By Housing Authority

Montana § 7-15-4512

Title 7LOCAL GOVERNMENT

Ch. 15HOUSING AND CONSTRUCTION

Part 45Municipal Housing Authorities Continued

This text of Montana § 7-15-4512 (Security For Money Deposited By Housing Authority) 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. § 7-15-4512 (2026).

Text

7-15-4512 . Security for money deposited by housing authority.

(1)The authority may by resolution provide that all money deposited by it shall be secured by:

(a)obligations of the United States or of the state of a market value equal at all times to the amount of such deposits;

(b)any securities in which savings banks may legally invest funds within their control; or

(c)an undertaking with such sureties as shall be approved by the authority to faithfully keep and pay over upon the order of the authority any such deposits and agreed interest thereon.

(2)All banks and trust companies are authorized to give any such security for such deposits.

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7-15-4512 . Security for money deposited by housing authority. (1) The authority may by resolution provide that all money deposited by it shall be secured by:
(a) obligations of the United States or of the state of a market value equal at all times to the amount of such deposits;
(b) any securities in which savings banks may legally invest funds within their control; or
(c) an undertaking with such sureties as shall be approved by the authority to faithfully keep and pay over upon the order of the authority any such deposits and agreed interest thereon.
(2) All banks and trust companies are authorized to give any such security for such deposits.