Montana § 17-5-1644 Care And Custody Of Bonds Purchased By The Board

Montana Statutes

§ 17-5-1644 — Care And Custody Of Bonds Purchased By The Board

Montana·Title 17 STATE FINANCE·Ch. 5 PUBLIC BOND ISSUES·Part 16 Municipal Finance Consolidation Act

17-5-1644 . Care and custody of bonds purchased by the board. The board may:

(1)enter into agreements or contracts with a bank, trust company, or financial institution, inside or outside the state, as may be necessary, desirable, or convenient, in the opinion of the board, for rendering services in connection with:

(a)the care, custody, or safekeeping of bonds or other investments held or owned by the board pursuant to this part;

(b)the payment or collection of amounts payable as to principal or interest; and

(c)the delivery to the board of bonds or other investments purchased by it or sold by it pursuant to this part;

(2)pay the cost of those services; and

(3)in connection with any of the services to be rendered by a bank, trust company, or financial institution as to the custody an

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17-5-1644 . Care and custody of bonds purchased by the board. The board may:
(1) enter into agreements or contracts with a bank, trust company, or financial institution, inside or outside the state, as may be necessary, desirable, or convenient, in the opinion of the board, for rendering services in connection with:
(a) the care, custody, or safekeeping of bonds or other investments held or owned by the board pursuant to this part;
(b) the payment or collection of amounts payable as to principal or interest; and
(c) the delivery to the board of bonds or other investments purchased by it or sold by it pursuant to this part;
(2) pay the cost of those services; and
(3) in connection with any of the services to be rendered by a bank, trust company, or financial institution as to the custody and safekeeping of its bonds or investments, require security in the form of collateral bonds, surety agreements, or security agreements in a form and amount as, in the opinion of the board, is necessary or desirable.

Montana § 17-5-1644 (Care And Custody Of Bonds Purchased By The Board) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.