Montana Code 17-6-221. Handling securities — custody of mortgages and repurchase agreements
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17-6-221. Handling securities — custody of mortgages and repurchase agreements. (1) Securities may be placed in safekeeping with banks subject to national supervision or Montana state examination, and a safekeeping receipt may be accepted in lieu of the actual securities.
Terms Used In Montana Code 17-6-221
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)Custody and control of repurchase agreements and mortgages shall be accomplished by the receipt of a confirmation of purchase.