Montana Statutes
§ 90-6-120 — Maintenance Of Capital Reserve Account
Montana·Title 90 PLANNING, RESEARCH, AND DEVELOPMENT·Ch. 6 COMMUNITY IMPACT -- PLANNING AND ABATEMENT·Part 1 Financing of Housing
90-6-120 . Maintenance of capital reserve account.
(1)In order to ensure the maintenance of the capital reserve account, the presiding officer of the board shall on or before September 1 in the year preceding the convening of the legislature deliver to the governor a certificate stating the sum, if any, required to restore the capital reserve account to the minimum capital reserve requirement. The governor shall include in the executive budget submitted to the legislature the sum required to restore the capital reserve account to the sum of minimum capital reserve requirements. All sums appropriated by the legislature must be deposited in the capital reserve account.
(2)All amounts appropriated to the board by the legislature under this section constitute advances to the board and, subje
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Legislative History
En. 35-517 by Sec. 18, Ch. 461, L. 1975; R.C.M. 1947, 35-517; amd. Sec. 2873, Ch. 56, L. 2009.
Nearby Sections
15
§ 90-6-1001
Oil, Gas, And Coal Natural Resource Accounts§ 90-6-101
Short Title§ 90-6-102
Legislative Declaration§ 90-6-103
Definitions§ 90-6-104
General Powers Of The Board§ 90-6-105
Meetings And Acts Of The Board§ 90-6-106
Adoption Of Rules§ 90-6-107
Deposit And Expenditure Of Funds§ 90-6-108
Financing Programs Of The Board§ 90-6-110
Supervision Of Housing Sponsors§ 90-6-111
Bonds And Notes§ 90-6-112
Provision Of Bond Resolutions§ 90-6-113
Validity Of Pledge§ 90-6-114
Personal Liability