Montana § 17-6-231 Definitions

Montana Statutes

§ 17-6-231 — Definitions

Montana § 17-6-231

Title 17STATE FINANCE

Ch. 6DEPOSITS AND INVESTMENTS

Part 2Investments

This text of Montana § 17-6-231 (Definitions) 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. § 17-6-231 (2026).

Text

17-6-231 . Definitions. For the purposes of 17-6-232 , 17-6-233 , and this section:

(1)(a) "Material" means a risk or return regarding which there is a substantial likelihood that a reasonable investor would attach importance when:

(i)evaluating the potential financial return and financial risks of an existing or prospective investment; or

(ii)exercising, or declining to exercise, any rights appurtenant to securities.

(b)When used to qualify a risk or return, the term does not include furthering nonpecuniary, environmental, social, governance, or other similarly oriented considerations, or any portion of a risk or return that primarily relates to events that involve a high degree of uncertainty regarding what may or may not occur in the distant future and are systemic, general, or not

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17-6-231 . Definitions. For the purposes of 17-6-232 , 17-6-233 , and this section:
(1) (a) "Material" means a risk or return regarding which there is a substantial likelihood that a reasonable investor would attach importance when:
(i) evaluating the potential financial return and financial risks of an existing or prospective investment; or
(ii) exercising, or declining to exercise, any rights appurtenant to securities.
(b) When used to qualify a risk or return, the term does not include furthering nonpecuniary, environmental, social, governance, or other similarly oriented considerations, or any portion of a risk or return that primarily relates to events that involve a high degree of uncertainty regarding what may or may not occur in the distant future and are systemic, general, or not investment-specific in nature.
(2) "Nonpecuniary" includes any action taken or factor considered by a fiduciary with any purpose to further environmental, social, governance, or other similarly oriented considerations.
(3) (a) "Pecuniary factor" means a factor that has a material effect on the financial risk or financial return of an investment based on appropriate investment horizons consistent with the plan's investment objectives and funding policy.
(b) The term does not include nonpecuniary factors.