Montana § 70-9-824 Interest And Penalties

Montana Statutes

§ 70-9-824 — Interest And Penalties

Montana § 70-9-824

Title 70PROPERTY

Ch. 9DISPOSITION OF UNCLAIMED PROPERTY

Part 8Uniform Unclaimed Property Act

This text of Montana § 70-9-824 (Interest And Penalties) 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. § 70-9-824 (2026).

Text

70-9-824 . Interest and penalties.

(1)A holder that fails to report, pay, or deliver property within the time prescribed by this part shall pay to the administrator interest at the annual rate of 12% on the property or value of the property from the date the property should have been reported, paid, or delivered.

(2)Except as otherwise provided in subsection (3), a holder that fails to report, pay, or deliver property within the time prescribed by this part, or fails to perform other duties imposed by this part, shall pay to the administrator, in addition to interest as provided in subsection (1), a civil penalty of $100 for each day the report, payment, or delivery is withheld, or the duty is not performed, up to a maximum of $2,500.

(3)A holder that willfully fails to report, pay, or

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70-9-824 . Interest and penalties. (1) A holder that fails to report, pay, or deliver property within the time prescribed by this part shall pay to the administrator interest at the annual rate of 12% on the property or value of the property from the date the property should have been reported, paid, or delivered.
(2) Except as otherwise provided in subsection (3), a holder that fails to report, pay, or deliver property within the time prescribed by this part, or fails to perform other duties imposed by this part, shall pay to the administrator, in addition to interest as provided in subsection (1), a civil penalty of $100 for each day the report, payment, or delivery is withheld, or the duty is not performed, up to a maximum of $2,500.
(3) A holder that willfully fails to report, pay, or deliver property within the time prescribed by this part, or willfully fails to perform other duties imposed by this part, shall pay to the administrator, in addition to interest as provided in subsection (1), a civil penalty of $1,000 for each day the report, payment, or delivery is withheld, or the duty is not performed, up to a maximum of $25,000, plus 25% of the value of any property that should have been but was not reported.
(4) A holder that makes a fraudulent report shall pay to the administrator, in addition to interest as provided in subsection (1), a civil penalty of $1,000 for each day from the date a report under this part was due, up to a maximum of $25,000, plus 25% of the value of any property that should have been but was not reported.
(5) The administrator for good cause may waive, in whole or in part, interest under subsection (1) and penalties under subsections (2) and (3) and shall waive penalties if the holder acted in good faith and without negligence.