1. MCA Contents
  2. TITLE 17
  3. CHAPTER 6
  4. Part 2
  5. 17-6-221 Handling securities -- custody of mortgages and repurchase agreements

Montana Code Annotated 2019

TITLE 17. STATE FINANCE

CHAPTER 6. DEPOSITS AND INVESTMENTS

Part 2. Investments

Handling Securities -- Custody Of Mortgages And Repurchase Agreements

17-6-221. Handling securities -- custody of mortgages and repurchase agreements. (1) Securities may be placed in safekeeping with banks subject to national supervision or Montana state examination, and a safekeeping receipt may be accepted in lieu of the actual securities.

(2) Custody and control of repurchase agreements and mortgages shall be accomplished by the receipt of a confirmation of purchase.

History: En. Sec. 440, Pol. C. 1895; re-en. Sec. 179, Rev. C. 1907; re-en. Sec. 174, R.C.M. 1921; Cal. Pol. C. Sec. 452; re-en. Sec. 174, R.C.M. 1935; amd. Sec. 8, Ch. 147, L. 1963; amd. Sec. 1, Ch. 152, L. 1971; amd. Sec. 1, Ch. 269, L. 1973; R.C.M. 1947, 79-201(8).