3-7-401. Definitions. For the purposes of this part, the following definitions apply:

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Terms Used In Montana Code 3-7-401

  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Executor: A male person named in a will to carry out the decedent
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Trustee: A person or institution holding and administering property in trust.

(1)”Fiduciary” includes such relationships as executor, administrator, trustee, or guardian.

(2)”Financial interest” means ownership of a legal or equitable interest, however small, or a relationship as director, advisor, or other active participant in the affairs of a party, except that:

(a)ownership in a mutual or common investment fund that holds securities is not a financial interest in such securities unless the judge or water master participates in the management of the fund;

(b)an office in an educational, religious, charitable, fraternal, or civic organization is not a financial interest in securities held by the organization;

(c)the proprietary interest of a policyholder in a mutual insurance company or a depositor in a mutual savings association or a similar proprietary interest is a financial interest in the organization only if the outcome of the proceeding could substantially affect the value of the interest; and

(d)ownership of government securities is a financial interest in the issuer only if the outcome of the proceeding could substantially affect the value of the securities.

(3)”Proceeding” includes prehearing, hearing, appellate review, or other stages of adjudication conducted by the water master or water judge.