Mont. Code § 17-5-1123

Current through the 2023 Regular Session

Section 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.

§ 17-5-1123, MCA

En. Sec. 11, Ch. 364, L. 1983.