Montana Code 30-10-1108. Source of payment of whistleblower award
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30-10-1108. Source of payment of whistleblower award. (1) The commissioner is authorized to order that a whistleblower award is paid:
Terms Used In Montana Code 30-10-1108
- Commissioner: has the meaning provided in 30-10-103. See Montana Code 30-10-1103
- Monetary sanction: means any money, including penalties, disgorgement, and interest ordered to be paid as a result of an administrative or judicial action. See Montana Code 30-10-1103
- Whistleblower: means an individual who, alone or jointly with others, provides the state or other law enforcement agency with information pursuant to the provisions set forth in this part, and the information relates to a possible violation of state or federal securities laws, including any rules or regulations thereunder, that has occurred, is ongoing, or is about to occur. See Montana Code 30-10-1103
(a)directly to a known whistleblower; or
(b)for an anonymous whistleblower, to counsel for the whistleblower as provided in 30-10-1106, who shall distribute the award to the anonymous whistleblower.
(2)Any whistleblower award under this part must be paid solely from the monetary sanction collected in the related administrative or judicial action and has first priority over other payment or disbursement.