Montana Code > Title 33 > Chapter 5 > Part 4 – Finance
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Terms Used In Montana Code > Title 33 > Chapter 5 > Part 4 - Finance
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney: as used in this chapter , refers to the attorney-in-fact of a reciprocal insurer. See Montana Code 33-5-104
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Property: means real and personal property. See Montana Code 1-1-205
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Several: means two or more. See Montana Code 1-1-201
- 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