Montana Code 7-33-2144. Distribution of assets and liabilities following division
Current as of: 2023 | Check for updates
|
Other versions
7-33-2144. Distribution of assets and liabilities following division. (1) Upon the division of districts, the assets and liabilities of the original rural fire district must be distributed in accordance with the division plan as provided in 7-33-2142.
Terms Used In Montana Code 7-33-2144
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2)Any detracted area is liable for any existing warrant and bonded indebtedness of the original district.