7-35-2147. Financial management of fund.

129 words·~1 min read·/mt/title-7/chapter-35/part-21/7-35-2147

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

7-35-2147 . Financial management of fund.

(1)The principal of such fund shall in all cases remain intact and inviolate.

(2)The principal of such fund may be invested in the way in which public employees' retirement funds are permitted to be invested in Montana and not otherwise, provided that each investment made by the trustee or by the board of trustees shall be subject to the approval of the board of trustees of the public cemetery district.

(3)The trustees of such fund shall, on January 1 and July 1 in each year, turn over to the treasurer of such public cemetery district all accrued income arising from such fund, and the receipt of such treasurer therefor shall be a sufficient voucher in the hands of such trustees.