reglab/housing_qa huggingface dataset:
MT Code § 17-5-1111 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1111. System of registration

  17-5-1111. System of registration. (1) Each issuer is authorized to establish and regularly maintain a system of registration with respect to each public obligation that it issues. The system may be either a system pursuant to which only certificated public obligations are issued or a system pursuant to which both certificated and uncertificated public obligations are issued. The issuer may discontinue and reinstitute either system from time to time.   (2) The system must be established and regularly maintained or amended, discontinued, or reinstituted for the issuer by the official or official body.   (3) The system must be described in the official actions that provide for original issuance and in subsequent official actions providing for amendments and other matters from time to time. The description may be by reference to a program of the issuer that is established by the official or official body.   (4) The system must define the method or methods by which transfer of the public obligations is effective with respect to the issuer, which method or methods are exclusive (substantial compliance being essential to a valid transfer) and by which payment of principal and any interest must be made. The system may permit the issuance of public obligations in any denomination to represent several public obligations of smaller denominations. The system may also provide for the form of any certificated public obligations, for differing record and payment dates, for varying denominations, and for accounting, canceled certificate destruction, and other incidental matters.   (5) Under a system pursuant to which both certificated and uncertificated public obligations are issued, both types of public obligations may be regularly issued or one type may be regularly issued and the other type issued only under described circumstances or to particular described categories of owners. Under a system pursuant to which uncertificated public obligations are regularly issued, provisions may be made for registration of pledges and releases.   (6) The system may include covenants of the issuer as to amendments, discontinuances, and reinstitutions and the effect of those covenants on the exemption of interest from the income tax provided for by the Internal Revenue Code.   (7) If the effect of a conversion from one of the forms of public obligations provided for in this part to a form not provided for in this part is that interest will continue to be exempt from the income tax provided for by the Internal Revenue Code, this part does not preclude that conversion.   (8) To the extent not inconsistent with this part, the rights provided by other laws with respect to obligations in other forms must be provided with respect to obligations in forms that may be used under this part.   History: En. Sec. 4, Ch. 364, L. 1983; amd. Sec. 45, Ch. 114, L. 2003.
MT Code § 17-5-1112 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1112. Certificated public obligation -- execution -- authentication

  17-5-1112. Certificated public obligation -- execution -- authentication. (1) A certificated public obligation must be executed by the issuer by:   (a) the signing by an authorized officer with the manual signature of such officer; or   (b) the signing by such officer with a facsimile signature in lieu of the manual signature of such officer.   (2) Each certificated public obligation may, in addition to the signature or signatures of an authorized officer or officers, have placed upon it a certificate or certificates as authenticating trustee, registrar, transfer agent, or the like. Such certificate may be signed by the manual signature of an individual or by a facsimile signature in lieu of a manual signature, provided that at least one certificate is signed by a manual signature.   (3) The certificated public obligation must bear the manual signature of either:   (a) an authorized officer as defined in 17-5-1102; or   (b) a person described in subsection (2).   History: En. Sec. 5, Ch. 364, L. 1983.
MT Code § 17-5-1113 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1113. Certificated public obligation -- signatures

  17-5-1113. Certificated public obligation -- signatures. (1) No certificated public obligation signed by the authorized officers at the time of the signing is invalid or without binding effect even though before the issuance thereof any or all of such officers have ceased to fill their respective offices.   (2) Any authorized officer employed to sign any certificated public obligation may adopt as and for the signature of the officer the signature of a predecessor in office in the event that such predecessor's signature appears on such certificated public obligation.   History: En. Sec. 6, Ch. 364, L. 1983.
MT Code § 17-5-1114 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1114. Certificated public obligation -- seal

  17-5-1114. Certificated public obligation -- seal. When a seal is required or permitted in the execution of any certificated public obligation, an authorized officer may cause the seal to be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal.   History: En. Sec. 7, Ch. 364, L. 1983.
MT Code § 17-5-1115 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1115. Uncertificated public obligation -- signed statements

  17-5-1115. Uncertificated public obligation -- signed statements. The issuer shall provide, with respect to its uncertificated public obligations, for the sending of written statements that provide a record of certain rights as of the time of issuance of the statements. The statements must be sent to each person acquiring rights by registration in uncertificated public obligations, and the statements so sent must be signed by an authorized officer or by a person whose signature is required or permitted to be placed on a certificated public obligation of the same class or series. Statements, as such, confer no right on the recipient. Statements are neither a negotiable instrument nor a security.   History: En. Sec. 8, Ch. 364, L. 1983.
MT Code § 17-5-1116 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1116. through 17-5-1120 reserved

  17-5-1116 through 17-5-1120 reserved.
MT Code § 17-5-1121 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1121. Agents -- depositories

  17-5-1121. Agents -- depositories. (1) An issuer may appoint for a term as may be agreed, including for so long as a public obligation may be outstanding, corporate or other authenticating trustees, transfer agents, registrars, or paying or other agents and specify their rights, compensation, and duties, limit their liabilities, and provide for their payment of liquidated damages in the event of breach of certain of the duties imposed, which liquidated damages may be made payable to a financial intermediary. No trustee, transfer agent, registrar, paying or other agent need have an office or do business within this state.   (2) An issuer may enter into agreements with custodian banks and financial intermediaries, and nominees of any of them, in connection with the establishment and maintenance by others of a central depository system for the transfer or pledge of public obligations. The custodian banks, financial intermediaries, and nominees may, if qualified and acting as fiduciaries, also serve as authenticating trustees, transfer agents, registrars, or paying or other agents of the issuer with respect to the same issue of public obligations.   History: En. Sec. 9, Ch. 364, L. 1983.
MT Code § 17-5-1122 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1122. Costs -- collection

  17-5-1122. Costs -- collection. (1) An issuer, prior to or at original issuance, may provide as a part of a system of registration that the transferor or transferee of the public obligations pay all or a designated part of the costs of the system, that costs be paid out of the proceeds of the public obligations, or that both methods be used. The portion of the costs of the system not provided to be paid by the transferor or transferee or out of proceeds is the liability of the issuer.   (2) The issuer may as a part of the system provide for reimbursement or for satisfaction of its liability by payment by others. The issuer may enter into agreements with others respecting reimbursement or payment, may establish fees and charges pursuant to such agreements or otherwise, and may provide that the amount or estimated amount of the fees and charges must be reimbursed or paid from the same sources and by means of the same collection and enforcement procedures and with the same priority and effect as with respect to the obligation.   History: En. Sec. 10, Ch. 364, L. 1983.
MT Code § 17-5-1123 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 11. Public Obligations Registration|17-5-1123. Deposits for security

  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.   History: En. Sec. 11, Ch. 364, L. 1983.
MT Code § 17-5-1201 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1201. Repealed

  17-5-1201. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 1, Ch. 426, L. 1985.
MT Code § 17-5-1202 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1202. Repealed

  17-5-1202. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 2, Ch. 426, L. 1985.
MT Code § 17-5-1203 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1203. through 17-5-1210 reserved

  17-5-1203 through 17-5-1210 reserved.
MT Code § 17-5-1211 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1211. Repealed

  17-5-1211. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 3, Ch. 426, L. 1985.
MT Code § 17-5-1212 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1212. Repealed

  17-5-1212. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 4, Ch. 426, L. 1985.
MT Code § 17-5-1213 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1213. Repealed

  17-5-1213. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 5, Ch. 426, L. 1985.
MT Code § 17-5-1214 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1214. Repealed

  17-5-1214. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 6, Ch. 426, L. 1985.
MT Code § 17-5-1215 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1215. Repealed

  17-5-1215. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 7, Ch. 426, L. 1985.
MT Code § 17-5-1216 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1216. Repealed

  17-5-1216. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 8, Ch. 426, L. 1985.
MT Code § 17-5-1217 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1217. Repealed

  17-5-1217. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 9, Ch. 426, L. 1985.
MT Code § 17-5-1218 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1218. Repealed

  17-5-1218. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 10, Ch. 426, L. 1985.
MT Code § 17-5-1219 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1219. Repealed

  17-5-1219. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 11, Ch. 426, L. 1985.
MT Code § 17-5-1220 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 12. Allocation of State and Local Private Activity Bonds (Repealed)|17-5-1220. Repealed

  17-5-1220. Repealed. Sec. 15, Ch. 190, L. 1987.   History: En. Sec. 12, Ch. 426, L. 1985.
MT Code § 17-5-1301 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1301. Short title

  17-5-1301. Short title. This part may be cited as "The Montana Unified Volume Cap Bond Allocation Plan Act".   History: En. Sec. 1, Ch. 190, L. 1987.
MT Code § 17-5-1302 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1302. Definitions

  17-5-1302. Definitions. As used in this part, unless the context clearly requires otherwise, the following definitions apply:   (1) "Allocation" means an allocation of a part of the state's volume cap to an issuer pursuant to this part.   (2) "Board" means the board of examiners.   (3) "Bonds" means bonds, notes, or other interest-bearing obligations of an issuer.   (4) "Cap bonds" means those private activity bonds and that portion of governmental bonds for which a part of the volume cap is required to be allocated pursuant to the tax act.   (5) "Department" means the department of administration.   (6) "Governmental bonds" means bonds other than private activity bonds.   (7) "Issuer" means a state issuer or local issuer.   (8) "Local issuer" means a city, town, county, or other political subdivision of the state authorized to issue private activity bonds or governmental bonds.   (9) "Local portion" means that portion of the state's volume cap reserved for local issuers.   (10) "Montana board of housing" (MBH) means the board created in 2-15-1814.   (11) "Montana board of investments" (MBI) means the board provided for in 2-15-1808.   (12) "Montana facility finance authority" (MFFA) means the authority provided for in 2-15-1815.   (13) "Montana higher education student assistance corporation" (MHESAC) means the nonprofit corporation established to provide student loan capital to the student loan program established by the board of regents of higher education under Title 20, chapter 26, part 11.   (14) "Private activity bonds" (PABs) has the meaning prescribed under section 141 of the Internal Revenue Code, 26 U.S.C. 141.   (15) "State issuer" means the state and any agency of the state authorized to issue private activity bonds. For this part only, the Montana higher education student assistance corporation, to the extent authorized under federal law to issue private activity bonds, is considered a state issuer.   (16) "State portion" means that portion of the state's volume cap reserved for state issuers.   (17) "State's volume cap" means that amount of the volume cap specified by the department pursuant to 17-5-1311(2).   (18) "Tax act" means the latest limitation enacted by the United States congress on the amount of cap bonds that may be issued by a state or local issuer.   (19) "Volume cap" means, with respect to each calendar year, the principal amount of cap bonds that may be issued in the state in a calendar year as determined under the provisions of the tax act.   History: En. Sec. 2, Ch. 190, L. 1987; amd. Sec. 1, Ch. 168, L. 1991; amd. Sec. 1, Ch. 32, L. 2001; amd. Sec. 2, Ch. 137, L. 2001; amd. Sec. 1, Ch. 341, L. 2009.
MT Code § 17-5-1303 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1303. through 17-5-1310 reserved

  17-5-1303 through 17-5-1310 reserved.
MT Code § 17-5-1311 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1311. State's volume cap and reservations -- department to adopt rule

  17-5-1311. State's volume cap and reservations -- department to adopt rule. (1) For each calendar year, the state's volume cap is the amount specified by the department pursuant to subsection (2). In each calendar year, subject to the provisions established by 17-5-1312 and 17-5-1313, 70% of the state's volume cap is the state portion and 30% is the local portion.   (2) The department shall adopt a rule for the state's volume cap specifying the maximum dollar value of cap bonds that may be issued in a calendar year. The rule adopted by the department must consider the volume cap.   History: En. Sec. 3, Ch. 190, L. 1987; amd. Sec. 2, Ch. 32, L. 2001.
MT Code § 17-5-1312 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1312. Allocation to state issuers

  17-5-1312. Allocation to state issuers. (1) Except as provided in subsection (6), the state portion must be allocated to state issuers pursuant to 17-5-1316.   (2) As a condition of receiving an allocation, each state issuer:   (a) upon issuance of the bonds, shall pay 35 cents per thousand of bonds to be deposited in the state general fund for the purpose of funding a portion of the comprehensive annual financial report audit; and   (b) shall provide the legislative auditor with full access to its financial records.   (3) As long as the Montana higher education student assistance corporation requests and receives authority to issue bonds under this part, the corporation shall:   (a) comply with the provisions of Title 2, chapter 3, in all meetings of the corporation's board of directors or other governing body unless compliance would conflict with federal or state security disclosure laws; and   (b) provide the legislative auditor with full access to any management or loan servicing contracts.   (4) The following set-aside percentages of the state's volume cap must be made in each calendar year for the following state issuers:     State Issuer   Percentage     Board   4%     MBH   41%     MBI   25%     MHESAC   26%     MFFA   4%     Total   100%     (5) Each set-aside expires on the first Monday in September.   (6) Prior to the set-aside expiration date, allocations may be made by the department to each state issuer only from its respective set-aside pursuant to 17-5-1316 and a state issuer is not entitled to an allocation except from its set-aside unless otherwise provided by the governor.   (7) After the expiration date, the amount of the set-aside remaining unallocated is available for allocation by the department to issuers pursuant to 17-5-1316 without preference or priority.   History: En. Sec. 4, Ch. 190, L. 1987; amd. Sec. 2, Ch. 168, L. 1991; amd. Sec. 3, Ch. 32, L. 2001; amd. Sec. 3, Ch. 137, L. 2001; amd. Sec. 2, Ch. 341, L. 2009.
MT Code § 17-5-1313 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1313. Allocation to local issuers

  17-5-1313. Allocation to local issuers. (1) The local portion must be allocated by the department pursuant to 17-5-1316, and no local issuer is entitled to an allocation except from the local portion set-aside.   (2) No more than $20 million of the local portion may be allocated for a single project or purpose prior to the first Monday in September of each year.   (3) After the first Monday in September, the local portion must be allocated by the department to issuers pursuant to 17-5-1316 without preference, priority, or limitation.   History: En. Sec. 5, Ch. 190, L. 1987.
MT Code § 17-5-1314 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1314. Authorization by the governor

  17-5-1314. Authorization by the governor. The governor may order an allocation different than that allocated by the department to state and local issuers pursuant to 17-5-1312 and 17-5-1313.   History: En. Sec. 6, Ch. 190, L. 1987.
MT Code § 17-5-1315 (2021)
2021 Montana Code Annotated|Title 17. State Finance|Chapter 5. Public Bond Issues|Part 13. Montana Unified Volume Cap Bond Allocation Plan Act|17-5-1315. Carryforward elections

  17-5-1315. Carryforward elections. (1) Between the first Monday in December and the second Wednesday in December, each issuer shall file with the department an application for a carryforward election with respect to any unallocated portion of the state's volume cap for the calendar year.   (2) Applications for carryforward elections may be filed only with respect to carryforward purposes authorized by the tax act. Each application for a carryforward election must contain the information required of an application for allocation under 17-5-1316 and any additional information required by either the tax act or the department.   (3) If, as of the second Wednesday in December, the aggregate amount of applications for carryforward elections does not exceed the amount of the unallocated and unused state's volume cap, each application constitutes a valid carryforward election within the meaning of the tax act.   (4) If, as of the second Wednesday in December, the aggregate amount of applications for carryforward elections exceeds the unallocated and unused state's volume cap, the department shall determine which applications constitute a valid carryforward election within the meaning of the tax act.   (5) After receipt of an application, the department shall notify the applicant in writing of either the approval of the carryforward election or the reason for disapproval.   History: En. Sec. 7, Ch. 190, L. 1987; amd. Sec. 4, Ch. 32, L. 2001.