Montana Code 2-15-135. Rights and duties under existing transactions

2-15-135. Rights and duties under existing transactions. The rights, privileges, and duties of the holders of bonds and other obligations issued and of the parties to contracts, leases, indentures, and other transactions entered into before the effective date of a transfer of functions by a reorganization within the executive branch, by the state or by any agency, officer, or employee thereof, and covenants and agreements as set forth therein remain in effect, and none of those rights, privileges, duties, covenants, or agreements are impaired or diminished by reason of the transfer of the functions of an agency or the abolition of an agency. The department or unit which succeeds to the functions of an agency is substituted for that agency and succeeds to its rights and duties under the provisions of those bonds, contracts, leases, indentures, and other transactions.

Terms Used In Montana Code 2-15-135

Agency: means an office, position, commission, committee, board, department, council, division, bureau, section, or any other entity or instrumentality of the executive branch of state government. See Montana Code 2-15-102
Department: means a principal functional and administrative entity that:

(a)is created by this chapter within the executive branch of state government;

(b)is one of the 20 principal departments permitted under the constitution; and

(c)includes its units. See Montana Code 2-15-102
Executive branch: means the executive branch of state government referred to in Article III, section 1, and Article VI of the Montana constitution. See Montana Code 2-15-102
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
Unit: means an internal subdivision of an agency, created by law or by administrative action, including a division, bureau, section, or department, and an agency allocated to a department for administrative purposes only by this chapter. See Montana Code 2-15-102

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