Montana Code 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.
Terms Used In Montana Code 17-5-1113
- Authorized officer: means , with respect to any certificated public obligation:
(i)an individual whose signature to the certificated public obligation is required or permitted; or
(ii)an individual who may be permitted by an authorized officer, either alone or with the concurrence of another or others, to affix the individual's signature to the certificated public obligation and who is so permitted in writing by the authorized officer with any required concurrence. See Montana Code 17-5-1102
- Certificated public obligation: means an obligation that is:
(a)issued pursuant to a system of registration;
(b)represented by an instrument; and
(c)either one of a class or series or by its terms is divisible into a class or series of obligations. See Montana Code 17-5-1102
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Obligation: means an agreement of an issuer to pay principal and interest and includes a share, participation, or other interest in the agreement. See Montana Code 17-5-1102
- Public obligation: means either a certificated or an uncertificated public obligation. See Montana Code 17-5-1102
(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.