Terms Used In Montana Code > Title 19 > Chapter 20 > Part 2 - Administration of System

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board: means the retirement system's governing board provided for in 2-15-1010. See Montana Code 19-20-101
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Employer: means :

  (a)the state of Montana;

  (b)a public school district, as provided in 20-6-101 and 20-6-701;

  (c)the office of public instruction;

  (d)the board of public education;

  (e)an education cooperative;

  (f)the Montana school for the deaf and blind, as described in 20-8-101;

  (g)the Montana youth challenge program, as defined in 10-1-101;

  (h)a correctional facility, as defined in 41-5-103;

  (i)the Montana university system;

  (j)a community college; or

  (k)any other agency, political subdivision, or instrumentality of the state that employs a person who is designated a member of the retirement system pursuant to 19-20-302. See Montana Code 19-20-101

• 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.
• Individual: means a human being. See Montana Code 19-20-101
• Internal Revenue Code: has the meaning provided in 15-30-2101. See Montana Code 19-20-101
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means a person who has an individual account in the annuity savings account. See Montana Code 19-20-101
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• plan: means the teachers' retirement system of the state of Montana provided for in 19-20-102. See Montana Code 19-20-101
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Quorum: The number of legislators that must be present to do business.
• Regular interest: means interest at a rate set by the retirement board in accordance with 19-20-501(2). See Montana Code 19-20-101
• Service: means the performance of duties that would entitle the person to active membership in the retirement system under the provisions of 19-20-302. See Montana Code 19-20-101
• 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
• Venue: The geographical location in which a case is tried.