Montana Code 33-27-114. Limit on the amount of fund
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33-27-114. Limit on the amount of fund. The independent liability fund of any small business may not be greater than the larger of the following:
Terms Used In Montana Code 33-27-114
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(1)the total of all legally required liability insurance; or
(2)five times the gross sales of the small business in its most recent fiscal year.