{"data":{"id":"us-mt/32-1-424","jurisdiction":"us-mt","citation":"32-1-424","heading":"Investments of financial institutions.","body":"(1) Notwithstanding other provisions of the law, it is lawful for a bank, trust company, investment company or other financial institution operating under the laws of this state to invest the funds or money in its custody or possession, eligible for investment, in:\n(a) debentures issued by the federal housing administrator and in obligations of national mortgage associations; and\n(b) United States government obligations, either directly or in the form of securities of or other interests in an open-end or closed-end management type investment company or investment trust registered under the Investment Company Act of 1940 (15 U.S.C. 80a-1 through 80a-64), as amended, if:\n(i) the portfolio of the investment company or investment trust is limited to United States government obligations and repurchase agreements fully collateralized by United States government obligations; and\n(ii) the investment company or investment trust takes delivery of the collateral for any repurchase agreement, either directly or through an authorized custodian.\n(2) The department shall publish a list of the permissible type of investments in United States government obligations as provided in subsection (1).","path":["TITLE 32. FINANCIAL INSTITUTIONS","CHAPTER 1. BANKS AND TRUST COMPANIES","Part 4. Operation and Regulation"],"source_url":"https://mca.legmt.gov/bills/mca/title_0320/chapter_0010/part_0040/section_0240/0320-0010-0040-0240.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:51:50Z","sha256":"124d65878c8b75581cd3036b48db2ab1d24eed0e049ec5a45d1d610bd3948f65","source_id":"us-mt","stale":false,"prev":"us-mt/32-1-423","next":"us-mt/32-1-425"},"notice":"GroundRules: Original legal text. Not legal advice."}