Montana § 32-2-908 Investments Of Financial Institutions

Montana Statutes

§ 32-2-908 — Investments Of Financial Institutions

Montana § 32-2-908

Title 32FINANCIAL INSTITUTIONS

Ch. 2MUTUAL SAVINGS AND LOAN ASSOCIATIONS

Part 9Operation and Regulation

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Bluebook

Mont. Code Ann. § 32-2-908 (2026).

Text

32-2-908 . Investments of financial institutions.

(1)Notwithstanding other provisions of the law, it is lawful for a mutual association operating under the laws of this state to invest the funds or money in its custody or possession, eligible for investment, in:

(a)debentures issued by the federal housing administrator and in obligations of national mortgage associations; and

(b)United States government obligations, either directly or in the form of securities of or other interests in an open-end or closed-end management type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. 80a-1 through 80a-64, as amended, if:

(i)the portfolio of the investment company or investment trust is limited to United States government obligations and repurc

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32-2-908 . Investments of financial institutions. (1) Notwithstanding other provisions of the law, it is lawful for a mutual association operating under the laws of this state to invest the funds or money in its custody or possession, eligible for investment, in:
(a) debentures issued by the federal housing administrator and in obligations of national mortgage associations; and
(b) United States government obligations, either directly or in the form of securities of or other interests in an open-end or closed-end management type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. 80a-1 through 80a-64, as amended, if:
(i) the portfolio of the investment company or investment trust is limited to United States government obligations and repurchase agreements fully collateralized by United States government obligations; and
(ii) the investment company or investment trust takes delivery of the collateral for any repurchase agreement, either directly or through an authorized custodian.
(2) The department shall publish a list of the permissible type of investments in United States government obligations as provided in subsection (1).