{"data":{"id":"us-mt/19-18-402","jurisdiction":"us-mt","citation":"19-18-402","heading":"Investment of fund by trustees.","body":"(1) Subject to the provisions of 19-18-403, when directed by a majority vote of the members of the association, the board of trustees may invest the surplus money in the fund or any part of the surplus money in:\n(a) time or saving deposits in a solvent bank, building and loan association, savings and loan association, or credit union operating in the county in which the city or town is located;\n(b) bonds or other securities of the United States government; or\n(c) general obligation bonds or warrants of any state, county, or city.\n(2) Unless otherwise required under 19-18-403, a change in investment type is subject to a majority vote of the board of trustees of the association.","path":["TITLE 19. PUBLIC RETIREMENT SYSTEMS","CHAPTER 18. FIREFIGHTERS' RETIREMENT","Part 4. Management of Association -- Investment of Fund"],"source_url":"https://mca.legmt.gov/bills/mca/title_0190/chapter_0180/part_0040/section_0020/0190-0180-0040-0020.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:49:06Z","sha256":"b10be83f2c8397160b162f00576e86674230f81e5971ceb4454975e90333b97b","source_id":"us-mt","stale":false,"prev":"us-mt/19-18-401","next":"us-mt/19-18-403"},"notice":"GroundRules: Original legal text. Not legal advice."}