reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-218. Assignment of real property

31-2-218. Assignment of real property.
When an assignment for the benefit of creditors embraces real property, it is subject to the provisions of this part, 70-21-102, and Title 70, chapter 21, part 3.
History: En. Sec. 4527, Civ. C. 1895; re-en. Sec. 6153, Rev. C. 1907; re-en. Sec. 8629, R.C.M. 1921; Cal. Civ. C. Sec. 3466; Field Civ. C. Sec. 1941; re-en. Sec. 8629, R.C.M. 1935; amd. Sec. 1, Ch. 185, L. 1977; R.C.M. 1947, 18-318; amd. Sec. 4, Ch. 88, L. 1979.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-219. Bond of assignees

31-2-219. Bond of assignees.
Within 30 days after the date of an assignment for the benefit of creditors, the assignee must enter into a bond to the state, for the use and benefit of the creditors, in such amount as may be fixed by a judge of the district court of the county in which the original inventory is filed, with sufficient sureties to be approved by such judge, and conditioned for the faithful discharge of the trust and the due accounting for all moneys received by the assignee, which bond must be filed in the same office with the original inventory.
History: En. Sec. 4528, Civ. C. 1895; re-en. Sec. 6154, Rev. C. 1907; re-en. Sec. 8630, R.C.M. 1921; Cal. Civ. C. Sec. 3467; Based on Field Civ. C. Sec. 1942; re-en. Sec. 8630, R.C.M. 1935; R.C.M. 1947, 18-319.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-220. Management, disposal, and conversion of estate

31-2-220. Management, disposal, and conversion of estate.
(1) Until the inventory and affidavit required by 31-2-213 and 31-2-214 have been made and filed and the assignee has given bond as required by 31-2-219, the assignee for the benefit of creditors has no authority to dispose of the estate or convert it to the purposes of the trust.
(2) However, if the assignor fails to present the inventory within the required 20 days, then the assignee, before the 10 days have elapsed, may apply to the district judge by verified petition for leave to file a provisional bond until the time that the assignor may be able to present the inventory as provided in this section.
(3) The district judge shall, in the case described in 31-2-214, and may also at any time on the petition of one or more creditors showing misconduct or incompetency of the assignee or on petition of the assignee, showing sufficient reason, and after due notice of not less than 5 days to the assignor, assignee, surety, and other persons that the judge may prescribe:
(a) remove or discharge the assignee and appoint one or more assignees in the former assignee's place; and
(b) order an accounting of the assignee removed or discharged.
(4) The district judge may:
(a) enjoin the assignee from interfering with the assignor's estate and make provision by order for the safe custody of the estate; and
(b) enforce obedience to the injunction and orders by attachment.
(5) Upon discharge, upon the former assignee's application, the former assignee's bond must be canceled and discharged.
(6) The new assignee shall give a bond, which must be approved as required.
(7) The district judge has power by order to:
(a) require or allow any inventory or schedule filed to be corrected or amended;
(b) require and compel, from time to time, supplemental inventories or schedules to be made and filed within the time that the judge prescribes; and
(c) enforce obedience to the orders by attachment.
History: En. Sec. 4529, Civ. C. 1895; re-en. Sec. 6155, Rev. C. 1907; amd. Sec. 1, Ch. 180, L. 1919; amd. Sec. 1, Ch. 215, L. 1921; re-en. Sec. 8631, R.C.M. 1921; Cal. Civ. C. Sec. 3468; re-en. Sec. 8631, R.C.M. 1935; R.C.M. 1947, 18-320; amd. Sec. 995, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-221. Notice to creditors to present claims

31-2-221. Notice to creditors to present claims.
(1) The judge may, upon the petition of the assignee, authorize the assignee to advertise for creditors to present to the assignee their claims, with the vouchers for the claims, duly verified, on or before a day to be specified in the advertisement, not less than 10 days from the publication. The advertisement or notice must be published in one newspaper, to be designated by the judge as most likely to give notice to the persons to be served, at least once and any additional times that the judge may direct. The last publication must be at least 1 week prior to the date specified.
(2) The verified claims of creditors must set forth whether any and, if so, what securities are held for the claims and whether any and, if so, what payments have been made on the claims.
History: En. Sec. 1, Ch. 180, L. 1919; amd. Sec. 1, Ch. 215, L. 1921; re-en. Sec. 8632, R.C.M. 1921; re-en. Sec. 8632, R.C.M. 1935; R.C.M. 1947, 18-321; amd. Sec. 996, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-222. Notices to parties interested in the estate as creditors or otherwise

31-2-222. Notices to parties interested in the estate as creditors or otherwise.
(1) Parties interested in the estate as creditors or parties otherwise interested, if the judge so directs, shall have at least 10 days' notice by mail to their respective addresses as they appear in the schedule filed by the assignor, or at such other addresses as they shall have filed with the assignee, of:
(a) all proposed sales of property, in bulk;
(b) the filing of the final account of the assignee and of the hearing thereon;
(c) any proposed compromise with creditors.
(2) Such notice may be given as the judge shall direct and must be returnable in court, or before the judge of the court at chambers, in the district.
History: En. Sec. 1, Ch. 180, L. 1919; amd. Sec. 1, Ch. 215, L. 1921; re-en. Sec. 8633, R.C.M. 1921; re-en. Sec. 8633, R.C.M. 1935; R.C.M. 1947, 18-322.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-223. Duties of assignee

31-2-223. Duties of assignee.
It shall be the duty of the assignee to:
(1) collect and reduce to money the property of the estate and close up the estate as expeditiously as possible;
(2) sell the property of the estate as soon as practicable and sell the accounts and bills receivable when deemed advisable;
(3) furnish such information concerning the estate as may be requested by parties in interest;
(4) keep regular accounts and pay dividends as often as is compatible with the best interests of the estate;
(5) file a final report and account at least 10 days before the hearing thereon.
History: En. Sec. 1, Ch. 180, L. 1919; amd. Sec. 1, Ch. 215, L. 1921; re-en. Sec. 8634, R.C.M. 1921; re-en. Sec. 8634, R.C.M. 1935; R.C.M. 1947, 18-323.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-224. Power of court

31-2-224. Power of court.
The court has power to:
(1) authorize the business of the assignor to be conducted for a limited period by assignee, if necessary in the best interests of the estate, and allow additional compensation for the services;
(2) reopen estates when it appears they were closed before being fully administered and for that purpose to appoint another assignee who will take title to the property not administered;
(3) direct upon the final settlement of the estate that the assignee pay to the lawful creditors their proportionate dividend, notwithstanding that their claim has not been presented in accordance with the notice sent out by the assignee, provided that 4 months have not elapsed since the first publication of notice to creditors;
(4) approve the final report and discharge the assignee and the assignee's surety from all further liabilities upon matters included in the accounting to creditors appearing and to creditors not having appeared after due citation or not having presented their claims after due advertisement.
History: En. Sec. 1, Ch. 180, L. 1919; amd. Sec. 1, Ch. 215, L. 1921; re-en. Sec. 8635, R.C.M. 1921; re-en. Sec. 8635, R.C.M. 1935; R.C.M. 1947, 18-324; amd. Sec. 5, Ch. 88, L. 1979; amd. Sec. 997, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-225. When further security required

31-2-225. When further security required.
The district judge may, upon the judge's own motion or upon the application of any party in interest and on notice that the judge may direct to be given to the assignor, assignee, and surety, require further security to be given whenever, in the judge's judgment, the security afforded by the bond on file is not adequate.
History: En. Sec. 4530, Civ. C. 1895; re-en. Sec. 6156, Rev. C. 1907; re-en. Sec. 8636, R.C.M. 1921; re-en. Sec. 8636, R.C.M. 1935; R.C.M. 1947, 18-325; amd. Sec. 998, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-226. Accounting of assignee

31-2-226. Accounting of assignee.
After 6 months from the date of an assignment for the benefit of creditors, the assignee may be required, on petition of any creditor, to make an accounting before the district court of the county where the accompanying inventory was filed.
History: En. Sec. 4531, Civ. C. 1895; re-en. Sec. 6157, Rev. C. 1907; re-en. Sec. 8637, R.C.M. 1921; Cal. Civ. C. Sec. 3469; Based on Field Civ. C. Sec. 1944; re-en. Sec. 8637, R.C.M. 1935; R.C.M. 1947, 18-326; amd. Sec. 6, Ch. 88, L. 1979.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-227. Property exempt

31-2-227. Property exempt.
Property exempt from execution and insurance upon the life of the assignor do not pass to the assignee by a general assignment for the benefit of creditors unless the instrument specially mentions them and declares an intention that they should pass thereby.
History: En. Sec. 4532, Civ. C. 1895; re-en. Sec. 6158, Rev. C. 1907; re-en. Sec. 8638, R.C.M. 1921; Cal. Civ. C. Sec. 3470; Field Civ. C. Sec. 1945; re-en. Sec. 8638, R.C.M. 1935; R.C.M. 1947, 18-327.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-228. Compensation

31-2-228. Compensation.
In the absence of any provision in the assignment to the contrary, an assignee for the benefit of creditors is entitled to the same commissions as are allowed by law to executors and guardians, but the assignment cannot grant more and may restrict the commissions to a lesser amount or deny them altogether.
History: En. Sec. 4533, Civ. C. 1895; re-en. Sec. 6159, Rev. C. 1907; re-en. Sec. 8639, R.C.M. 1921; Cal. Civ. C. Sec. 3471; Field Civ. C. Sec. 1946; re-en. Sec. 8639, R.C.M. 1935; R.C.M. 1947, 18-328.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-229. Assignees protected for acts done in good faith

31-2-229. Assignees protected for acts done in good faith.
An assignee for the benefit of creditors may not be held liable for acts done in good faith in the execution of the trust merely for the reason that the assignment is afterwards adjudged void.
History: En. Sec. 4534, Civ. C. 1895; re-en. Sec. 6160, Rev. C. 1907; re-en. Sec. 8640, R.C.M. 1921; Cal. Civ. C. Sec. 3472; Field Civ. C. Sec. 1947; re-en. Sec. 8640, R.C.M. 1935; R.C.M. 1947, 18-329; amd. Sec. 999, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 2. Assignments for Benefit of Creditors › 31-2-230. Assent of creditors necessary to modification of assignment

31-2-230. Assent of creditors necessary to modification of assignment.
An assignment for the benefit of creditors which has been executed and recorded so as to transfer the property to the assignee cannot afterwards be canceled or modified by the parties thereto without the consent of every creditor affected thereby.
History: En. Sec. 4535, Civ. C. 1895; re-en. Sec. 6161, Rev. C. 1907; re-en. Sec. 8641, R.C.M. 1921; Cal. Civ. C. Sec. 3473; Field Civ. C. Sec. 1948; re-en. Sec. 8641, R.C.M. 1935; R.C.M. 1947, 18-330.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-301. Repealed

31-2-301. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 1, Ch. 126, L. 1945; R.C.M. 1947, 29-101.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-302. Repealed

31-2-302. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 2, Ch. 126, L. 1945; R.C.M. 1947, 29-102.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-303. Repealed

31-2-303. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 3, Ch. 126, L. 1945; R.C.M. 1947, 29-103.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-311. Repealed

31-2-311. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 4, Ch. 126, L. 1945; R.C.M. 1947, 29-104.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-312. Repealed

31-2-312. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 5, Ch. 126, L. 1945; R.C.M. 1947, 29-105.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-313. Repealed

31-2-313. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 6, Ch. 126, L. 1945; R.C.M. 1947, 29-106.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-314. Repealed

31-2-314. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 7, Ch. 126, L. 1945; R.C.M. 1947, 29-107.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-315. Repealed

31-2-315. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 4491, Civ. C. 1895; re-en. Sec. 6128, Rev. C. 1907; re-en. Sec. 8604, R.C.M. 1921; Cal. Civ. C. Sec. 3440; Field Civ. C. Sec. 1919; re-en. Sec. 8604, R.C.M. 1935; amd. Sec. 5, Ch. 185, L. 1977; R.C.M. 1947, 29-208.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-316. Repealed

31-2-316. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 4493, Civ. C. 1895; re-en. Sec. 6130, Rev. C. 1907; re-en. Sec. 8606, R.C.M. 1921; Cal. Civ. C. Sec. 3442; Field Civ. C. Sec. 1923; re-en. Sec. 8606, R.C.M. 1935; R.C.M. 1947, 29-210.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-317. Repealed

31-2-317. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 8, Ch. 126, L. 1945; R.C.M. 1947, 29-108.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-321. Repealed

31-2-321. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 9, Ch. 126, L. 1945; R.C.M. 1947, 29-109.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-322. Repealed

31-2-322. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 10, Ch. 126, L. 1945; R.C.M. 1947, 29-110.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-323. Repealed

31-2-323. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 4492, Civ. C. 1895; re-en. Sec. 6129, Rev. C. 1907; re-en. Sec. 8605, R.C.M. 1921; Cal. Civ. C. Sec. 3441; Field Civ. C. Sec. 1922; re-en. Sec. 8605, R.C.M. 1935; R.C.M. 1947, 29-209.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-324. Repealed

31-2-324. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 11, Ch. 126, L. 1945; R.C.M. 1947, 29-111.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-325. Repealed

31-2-325. Repealed.
Sec. 14, Ch. 324, L. 1991.
History: En. Sec. 12, Ch. 126, L. 1945; R.C.M. 1947, 29-112.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-326. Short title

31-2-326. Short title.
This part may be cited as the "Uniform Fraudulent Transfer Act".
History: En. Sec. 1, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-327. Uniformity of application and construction

31-2-327. Uniformity of application and construction.
This part must be applied and construed to effectuate the general purpose of making uniform the law with respect to the subject of this part among states enacting it.
History: En. Sec. 12, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-329. Insolvency

31-2-329. Insolvency.
(1) A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's property at a fair valuation and the debtor is generally not paying the debtor's debts as they become due.
(2) Property under this section does not include property that has been transferred, concealed, or removed with intent to hinder, delay, or defraud creditors or that has been transferred in a manner making the transfer voidable under this part.
History: En. Sec. 3, Ch. 324, L. 1991; amd. Sec. 1000, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-330. Value

31-2-330. Value.
(1) Value is given for a transfer or an obligation if, in exchange for the transfer or obligation, property is transferred or an antecedent debt is secured or satisfied, but value does not include an unperformed promise made other than in the ordinary course of the promisor's business to furnish support to the debtor or another person.
(2) A transfer is made for present value if the exchange between the debtor and the transferee is intended by them to be contemporaneous and is in fact substantially contemporaneous.
History: En. Sec. 4, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-333. Transfers fraudulent as to present and future creditors

31-2-333. Transfers fraudulent as to present and future creditors.
(1) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the creditor's claim arose before or after the transfer was made or the obligation was incurred, if the debtor made the transfer or incurred the obligation:
(a) with actual intent to hinder, delay, or defraud any creditor of the debtor; or
(b) without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor:
(i) was engaged or was about to engage in a business or a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction; or
(ii) intended to incur, or believed or reasonably should have believed that the debtor would incur, debts beyond the debtor's ability to pay as they became due.
(2) In determining actual intent under subsection (1)(a), consideration may be given, among other factors, to whether:
(a) the transfer or obligation was to an insider;
(b) the debtor retained possession or control of the property transferred after the transfer;
(c) the transfer or obligation was disclosed or concealed;
(d) before the transfer was made or obligation was incurred, the debtor had been sued or threatened with suit;
(e) the transfer was of substantially all the debtor's assets;
(f) the debtor absconded;
(g) the debtor removed or concealed assets;
(h) the value of the consideration received by the debtor was reasonably equivalent to the value of the asset transferred or the amount of the obligation incurred;
(i) the debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred;
(j) the transfer occurred shortly before or shortly after a substantial debt was incurred; or
(k) the debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor.
History: En. Sec. 5, Ch. 324, L. 1991; amd. Sec. 1001, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-334. Transfers fraudulent as to present creditors

31-2-334. Transfers fraudulent as to present creditors.
(1) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made or the obligation was incurred if the debtor made the transfer or incurred the obligation without receiving a reasonably equivalent value in exchange for the transfer or obligation and the debtor was insolvent at that time or the debtor became insolvent as a result of the transfer or obligation.
(2) A transfer made by a debtor is fraudulent as to a creditor whose claim arose before the transfer was made if the transfer was made to an insider for an antecedent debt, the debtor was insolvent at that time, and the insider had reasonable cause to believe that the debtor was insolvent.
History: En. Sec. 6, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-335. When transfer made or obligation incurred

31-2-335. When transfer made or obligation incurred.
For the purposes of this part:
(1) a transfer is made:
(a) with respect to an asset that is real property other than a fixture, but including the interest of a seller or purchaser under a contract for the sale of the asset, when the transfer is so far perfected that a good faith purchaser of the asset from the debtor against whom applicable law permits the transfer to be perfected cannot acquire an interest in the asset that is superior to the interest of the transferee; and
(b) with respect to an asset that is not real property or that is a fixture, when the transfer is so far perfected that a creditor on a simple contract cannot acquire a judicial lien otherwise than under this part that is superior to the interest of the transferee;
(2) if applicable law permits the transfer to be perfected as provided in subsection (1) and the transfer is not perfected before the commencement of an action for relief under this part, the transfer is considered made immediately before the commencement of the action;
(3) if applicable law does not permit the transfer to be perfected as provided in subsection (1), the transfer is considered made when it becomes effective between the debtor and the transferee;
(4) a transfer is not made until the debtor has acquired rights in the asset transferred;
(5) an obligation is incurred:
(a) if oral, when it becomes effective between the parties; or
(b) if evidenced in writing, when the writing executed by the obligor is delivered to or for the benefit of the obligee.
History: En. Sec. 7, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-339. Remedies of creditors

31-2-339. Remedies of creditors.
(1) In an action for relief against a transfer or obligation under this part, a creditor, subject to the limitations in 31-2-340, may obtain:
(a) avoidance of the transfer or obligation to the extent necessary to satisfy the creditor's claim;
(b) an attachment or other provisional remedy against the asset transferred or other property of the transferee in accordance with the procedure prescribed by Title 27, chapter 18; or
(c) subject to applicable principles of equity and in accordance with applicable rules of civil procedure:
(i) an injunction against further disposition by the debtor or a transferee, or both, of the asset transferred or of other property;
(ii) appointment of a receiver to take charge of the asset transferred or of other property of the transferee; or
(iii) any other relief the circumstances may require.
(2) If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset transferred or its proceeds.
History: En. Sec. 8, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-340. Defenses, liability, and protection of transferee

31-2-340. Defenses, liability, and protection of transferee.
(1) A transfer or obligation is not voidable under 31-2-333(1)(a) against a person who took in good faith and for a reasonably equivalent value or against any subsequent transferee or obligee.
(2) Except as otherwise provided in this section, to the extent a transfer is voidable in an action by a creditor under 31-2-339(1)(a), the creditor may recover judgment for the value of the asset transferred, as adjusted under subsection (3), or the amount necessary to satisfy the creditor's claim, whichever is less. The judgment may be entered against:
(a) the first transferee of the asset or the person for whose benefit the transfer was made; or
(b) any subsequent transferee other than a good faith transferee who took for value or from any subsequent transferee.
(3) If the judgment under subsection (2) is based upon the value of the asset transferred, the judgment must be for an amount equal to the value of the asset at the time of the transfer, subject to adjustment as the equities may require.
(4) Notwithstanding voidability of a transfer or an obligation under this part, a good faith transferee or obligee is entitled, to the extent of the value given the debtor for the transfer or obligation, to:
(a) a lien on or a right to retain any interest in the asset transferred;
(b) enforcement of any obligation incurred; or
(c) a reduction in the amount of the liability on the judgment.
(5) A transfer is not voidable under 31-2-333(1)(b) or 31-2-334 if the transfer results from:
(a) termination of a lease upon default by the debtor when the termination is pursuant to the lease and applicable law; or
(b) enforcement of a security interest in compliance with Title 30, chapter 9A.
(6) A transfer is not voidable under 31-2-334(2):
(a) to the extent the insider gave new value to or for the benefit of the debtor after the transfer was made, unless the new value was secured by a valid lien;
(b) if made in the ordinary course of business or financial affairs of the debtor and the insider; or
(c) if made pursuant to a good faith effort to rehabilitate the debtor and the transfer secured present value given for that purpose as well as an antecedent debt of the debtor.
History: En. Sec. 9, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-341. Termination of cause of action

31-2-341. Termination of cause of action.
A cause of action with respect to a fraudulent transfer or obligation under this part is terminated unless an action is brought under:
(1) 31-2-333(1)(a) within 4 years after the transfer was made or the obligation was incurred or, if later, within 2 years after the transfer or obligation was or could reasonably have been discovered by the claimant;
(2) 31-2-333(1)(b) or 31-2-334(1) within 4 years after the transfer was made or the obligation was incurred; or
(3) 31-2-334(2) within 2 years after the transfer was made or the obligation was incurred.
History: En. Sec. 10, Ch. 324, L. 1991; amd. Sec. 1, Ch. 440, L. 2005.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 2. Debtor and Creditor Relationships › Part 3. Uniform Fraudulent Transfer Act › 31-2-342. Supplementary provisions

31-2-342. Supplementary provisions.
Unless displaced by the provisions of this part, the principles of law and equity, including the law merchant and the law relating to principal and agent, estoppel, laches, fraud, misrepresentation, duress, coercion, mistake, insolvency, or other validating or invalidating cause, supplement its provisions.
History: En. Sec. 11, Ch. 324, L. 1991.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-101. Purpose

31-3-101. Purpose.
It is the purpose of this part to require that consumer reporting agencies adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this part. A further purpose of this part is to guard an individual's right to privacy guaranteed in Article II, section 10, of the Montana constitution.
History: En. 18-501 by Sec. 1, Ch. 547, L. 1975; R.C.M. 1947, 18-501.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-103. Credit rating -- property right

31-3-103. Credit rating -- property right.
A credit rating is a property right with full constitutional protection.
History: En. 18-503 by Sec. 3, Ch. 547, L. 1975; R.C.M. 1947, 18-503.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-111. Permissible purposes of reports

31-3-111. Permissible purposes of reports.
A consumer reporting agency may furnish a consumer report under the following circumstances and no other:
(1) in response to the order of a court having jurisdiction to issue such an order;
(2) in accordance with the written instructions of the consumer to whom it relates;
(3) to a person which it has reason to believe:
(a) intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer;
(b) intends to use the information for employment purposes;
(c) intends to use the information in connection with the underwriting of insurance involving the consumer;
(d) intends to use the information in connection with a determination of the consumer's eligibility for a license or other benefit granted by a governmental instrumentality required by law to consider an applicant's financial responsibility or status; or
(e) otherwise has a legitimate business need for the information in connection with a business transaction involving the consumer.
History: En. 18-504 by Sec. 4, Ch. 547, L. 1975; R.C.M. 1947, 18-504.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-112. Obsolete information

31-3-112. Obsolete information.
No consumer reporting agency may make any consumer report containing any of the following items of information:
(1) bankruptcies which, from date of adjudication of the most recent bankruptcy, antedate the report by more than 14 years;
(2) suits and judgments which, from date of entry, antedate the report by more than 7 years or until the governing statute of limitations has expired, whichever is the longer period;
(3) paid tax liens which, from date of payment, antedate the report by more than 7 years;
(4) accounts placed for collection or charged to profit and loss which antedate the report by more than 7 years;
(5) records of arrest, indictment, or conviction of crime which, from date of disposition, release, or parole, antedate the report by more than 7 years;
(6) any other adverse item of information which antedates the report by more than 7 years.
History: En. 18-505 by Sec. 5, Ch. 547, L. 1975; R.C.M. 1947, 18-505.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-113. Disclosure of investigative consumer reports

31-3-113. Disclosure of investigative consumer reports.
(1) A person may not procure or cause to be prepared or distribute an investigative consumer report on any consumer unless:
(a) it is clearly and accurately disclosed to the consumer that an investigative consumer report, including information as to the consumer's character, general reputation, personal characteristics, and mode of living, whichever are applicable, may be made and the disclosure is made in a writing mailed or otherwise delivered to the consumer not later than 3 days after the date on which the report was first requested and includes a statement informing the consumer of the right to request the additional disclosures provided for under subsection (2); or
(b) the report is to be used for employment purposes for which the consumer applied.
(2) Any person who procures or causes to be prepared an investigative consumer report on any consumer shall, upon written request made by the consumer within a reasonable period of time after the receipt by the person of the disclosure required by subsection (1)(a), make a complete and accurate disclosure of the nature, scope, and substance of the investigation requested. This disclosure must be made in a writing and must be mailed or otherwise delivered to the consumer not later than 5 days after the date on which the request for the disclosure was received from the consumer or the report was first requested, whichever is later.
(3) A person may not be held liable for any violation of subsection (1) or (2) if the person shows by a preponderance of the evidence that at the time of the violation the person maintained reasonable procedures to ensure compliance with subsection (1) or (2).
History: En. 18-506 by Sec. 6, Ch. 547, L. 1975; R.C.M. 1947, 18-506; amd. Sec. 1003, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-114. Compliance procedures

31-3-114. Compliance procedures.
(1) Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of 31-3-112 and 31-3-113 and to limit the furnishing of consumer reports to the purposes listed under 31-3-111. These procedures must require that prospective users of the information identify themselves, certify the purposes for which the information is sought, and certify that the information will be used for no other purpose. Every consumer reporting agency shall make a reasonable effort to verify the identity of a new prospective user and the uses certified by the prospective user prior to furnishing the user a consumer report. A consumer reporting agency may not furnish a consumer report to any person if it has reasonable grounds for believing that the consumer report will not be used for a purpose listed in 31-3-111.
(2) Whenever a consumer reporting agency prepares a consumer report, it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates, and it shall maintain a record of all persons using the information and the source of each piece of information.
(3) When gathering information, a consumer reporting agency shall notify any person who furnishes information that the person is liable to suit if the information is false or furnished with malice or willful intent to injure the consumer.
History: En. 18-507 by Sec. 7, Ch. 547, L. 1975; R.C.M. 1947, 18-507; amd. Sec. 1004, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-115. Adverse information

31-3-115. Adverse information.
(1) Whenever a consumer reporting agency prepares an investigative consumer report, adverse information in the consumer report, other than information that is a matter of public record, may not be included in a subsequent consumer report unless the adverse information has been verified in the process of making the subsequent consumer report.
(2) A consumer reporting agency shall block the reporting of any information in the file of a consumer that the consumer identifies as information that resulted from an alleged identity theft, pursuant to 15 U.S.C. 1681c-2.
History: En. 18-508 by Sec. 8, Ch. 547, L. 1975; R.C.M. 1947, 18-508; amd. Sec. 1, Ch. 518, L. 2005.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-121. Disclosures to governmental agencies

31-3-121. Disclosures to governmental agencies.
Notwithstanding the provisions of 31-3-111, a consumer reporting agency may furnish identifying information respecting any consumer, limited to the consumer's name, address, former addresses, places of employment, or former places of employment, to a governmental agency.
History: En. 18-509 by Sec. 9, Ch. 547, L. 1975; R.C.M. 1947, 18-509; amd. Sec. 1005, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-122. Disclosures to consumers

31-3-122. Disclosures to consumers.
(1) Every consumer reporting agency shall, upon request and proper identification of any consumer, clearly and accurately disclose to the consumer:
(a) the nature and substance of all information (except medical information) in its files on the consumer at the time of the request; and
(b) the sources of the information.
(2) The requirements of subsection (1) respecting the disclosure of sources of information and the recipients of consumer reports furnished prior to July 1, 1975, do not apply to existing consumer reporting agencies except to the extent that the matter involved is contained in the files of the consumer reporting agency on that date.
History: En. 18-510 by Sec. 10, Ch. 547, L. 1975; amd. Sec. 3, Ch. 185, L. 1977; R.C.M. 1947, 18-510.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-123. Conditions of disclosure to consumer

31-3-123. Conditions of disclosure to consumer.
(1) A consumer reporting agency shall make the disclosures required under 31-3-122 during normal business hours and on reasonable notice.
(2) The disclosures required under 31-3-122 must be made to the consumer:
(a) in person if the consumer appears in person and furnishes proper identification; or
(b) by telephone if the consumer has made a written request, with proper identification for telephone disclosure, and the toll charge, if any, for the telephone call is prepaid by or charged directly to the consumer.
(3) Any consumer reporting agency shall provide trained personnel to explain to the consumer any information furnished to the consumer pursuant to 31-3-122.
(4) The consumer must be permitted to be accompanied by one other person of the consumer's choosing, who shall furnish reasonable identification. A consumer reporting agency may require the consumer to furnish a written statement granting permission to the consumer reporting agency to discuss the consumer's file in the other person's presence.
History: En. 18-511 by Sec. 11, Ch. 547, L. 1975; R.C.M. 1947, 18-511; amd. Sec. 1006, Ch. 56, L. 2009.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-124. Procedure in case of disputed accuracy

31-3-124. Procedure in case of disputed accuracy.
(1) If the completeness or accuracy of any item of information contained in this file is disputed by a consumer and the dispute is directly conveyed to the consumer reporting agency by the consumer, the consumer reporting agency shall within a reasonable period of time reinvestigate and record the current status of that information unless it has reasonable grounds to believe that the dispute by the consumer is frivolous or irrelevant. If after such reinvestigation such information is found to be inaccurate or can no longer be verified, the consumer reporting agency shall promptly delete the information and notify all users, of whom the consumer reporting agency has records, of the information's deletion. The users shall also delete the information.
(2) If the reinvestigation does not resolve the dispute, the consumer may file a brief statement setting forth the nature of the dispute.
(3) Whenever a statement of a dispute is filed, unless there are reasonable grounds to believe that it is frivolous or irrelevant, the consumer reporting agency shall, in any subsequent consumer report containing the information in question, clearly note that it is disputed by the consumer and provide either the consumer's statement or a clear and accurate codification or summary thereof. The consumer reporting agency shall notify the consumer of all users, of whom it has records, who have the disputed information.
History: En. 18-512 by Sec. 12, Ch. 547, L. 1975; R.C.M. 1947, 18-512.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-125. Fees for disclosures to consumers

31-3-125. Fees for disclosures to consumers.
A consumer reporting agency shall make all disclosures pursuant to 31-3-122 and 31-3-124 to the consumer, with appropriate fees to be established by the department of administration in accordance with the Montana Administrative Procedure Act.
History: En. 18-513 by Sec. 13, Ch. 547, L. 1975; R.C.M. 1947, 18-513; amd. Sec. 2, Ch. 274, L. 1981; amd. Sec. 72, Ch. 483, L. 2001.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-126. Public record information for employment purposes

31-3-126. Public record information for employment purposes.
A consumer reporting agency which furnishes a consumer report for employment purposes and which for that purpose compiles and reports items of information on consumers which are matters of public record and are likely to have an adverse effect upon a consumer's ability to obtain employment shall:
(1) at the time such public record information is reported to the user of such consumer report, notify the consumer of the fact that public record information is being reported by the consumer reporting agency, together with the name and address of the person to whom such information is being reported; or
(2) maintain strict procedures designed to insure that whenever public record information which is likely to have an adverse effect on a consumer's ability to obtain employment is reported it is complete and up-to-date. For purposes of this paragraph, items of public record relating to arrests, indictments, convictions, suits, tax liens, and outstanding judgments shall be considered up-to-date if the current public record status of the item at the time of the report is reported.
History: En. 18-514 by Sec. 14, Ch. 547, L. 1975; R.C.M. 1947, 18-514.
2023 Montana Code Annotated › Title 31. Credit Transactions and Relationships › Chapter 3. Related Credit Practices › Part 1. Consumer Reporting Agencies › 31-3-131. Requirements on users of consumer reports

31-3-131. Requirements on users of consumer reports.
(1) Whenever credit or insurance for personal, family, or household purposes or employment involving a consumer is denied or the charge for the credit or insurance is increased either wholly or partly because of information contained in a consumer report from a consumer reporting agency, the user of the consumer report shall advise the consumer against whom the adverse action has been taken and supply the name and address of the consumer reporting agency making the report.
(2) Whenever credit for personal, family, or household purposes involving a consumer is denied or the charge for the credit is increased either wholly or partly because of information obtained from a person other than a consumer reporting agency bearing upon the consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living, the user of the information shall, within a reasonable period of time, upon the consumer's written request for the reasons for the adverse action received within 60 days after the consumer learned of the adverse action, disclose the nature of the information to the consumer. The user of the information shall clearly and accurately disclose to the consumer the right to make the written request at the time the adverse action is communicated to the consumer.
(3) A person may not be held liable for any violation of this section if the person shows by a preponderance of the evidence that at the time of the alleged violation the person maintained reasonable procedures to ensure compliance with the provisions of subsections (1) and (2).
History: En. 18-515 by Sec. 15, Ch. 547, L. 1975; amd. Sec. 4, Ch. 185, L. 1977; R.C.M. 1947, 18-515; amd. Sec. 1007, Ch. 56, L. 2009.