Montana Code 20-25-1404. Authorization to finance self-insured health plan for students
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20-25-1404. Authorization to finance self-insured health plan for students. The commissioner may, subject to the approval of the board of regents, finance the initial costs to establish the plan established pursuant to 20-25-1401 by using any of the following methods:
Terms Used In Montana Code 20-25-1404
- Board of regents: means the board of regents of higher education created by Article X, section 9, subsection (2), of the Montana constitution and 2-15-1505. See Montana Code 20-1-101
- Commissioner: means the commissioner of higher education created by Article X, section 9, subsection (2), of the Montana constitution and 2-15-1506. See Montana Code 20-1-101
- 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.
- University: means the university of Montana-Missoula. See Montana Code 20-1-101
(1)authorizing a long-term loan of university funds. The loan must bear interest at a rate equivalent to the previous fiscal year‘s average rate of return on the board of investments’ short-term investment pool.
(2)issuing and selling bonds and notes in whole or in part for this purpose; or
(3)using any other lawful means, including the assessment of student fees.