19-20-706. Exemption from taxation and legal process. Except as provided in 19-20-305 and 19-20-306, the retirement allowances or any other benefits accrued or accruing to any person under the provisions of the retirement system and the accumulated contributions and cash and securities in the various funds of the retirement system are:

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Terms Used In Montana Code 19-20-706

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Employer: means :

    (a)the state of Montana;

    (b)a public school district, as provided in 20-6-101 and 20-6-701;

    (c)the office of public instruction;

    (d)the board of public education;

    (e)an education cooperative;

    (f)the Montana school for the deaf and blind, as described in 20-8-101;

    (g)the Montana youth challenge program, as defined in 10-1-101;

    (h)a correctional facility, as defined in 41-5-103;

    (i)the Montana university system;

    (j)a community college; or

    (k)any other agency, political subdivision, or instrumentality of the state that employs a person who is designated a member of the retirement system pursuant to 19-20-302. See Montana Code 19-20-101

  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Member: means a person who has an individual account in the annuity savings account. See Montana Code 19-20-101
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
  • Trustee: A person or institution holding and administering property in trust.

(1)exempted from any county or municipal tax except for a refund paid under 19-20-603 of a member‘s contributions picked up by an employer after June 30, 1985, as provided in 19-20-602;

(2)not subject to execution, garnishment, attachment by trustee process or otherwise, in law or equity, or any other process; and

(3)unassignable except as specifically provided in this chapter.