Montana § 17-5-1123 Deposits For Security

Montana Statutes

§ 17-5-1123 — Deposits For Security

Montana·Title 17 STATE FINANCE·Ch. 5 PUBLIC BOND ISSUES·Part 11 Public Obligations Registration

17-5-1123 . Deposits for security. Whenever under any law of this state a deposit of public obligations is authorized as security, public obligations otherwise meeting the authorized criteria may be deposited and must be accepted as security, provided that:

(1)in the case of a certificated public obligation, the instrument is assigned to the holder of the deposit; and

(2)in the case of an uncertificated public obligation, registration of a pledge is authorized by the system and the pledge of the uncertificated obligation is registered.

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17-5-1123 . Deposits for security. Whenever under any law of this state a deposit of public obligations is authorized as security, public obligations otherwise meeting the authorized criteria may be deposited and must be accepted as security, provided that:
(1) in the case of a certificated public obligation, the instrument is assigned to the holder of the deposit; and
(2) in the case of an uncertificated public obligation, registration of a pledge is authorized by the system and the pledge of the uncertificated obligation is registered.

Montana § 17-5-1123 (Deposits For Security) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.