Montana Code 30-10-1004. Creation of securities restitution assistance fund
30-10-1004. (Temporary) Creation of securities restitution assistance fund. (1) There is an account in the state special revenue fund to the credit of the commissioner for use only for securities restitution assistance. This account may be referred to as the “securities restitution assistance fund” or “fund”. The money in the fund is statutorily appropriated, as provided in 17-7-502, to the commissioner for the purposes provided in subsection (4) of this section.
Terms Used In Montana Code 30-10-1004
- Claimant: means a person who files an application for restitution assistance under this part on behalf of a victim. See Montana Code 30-10-1003
- Fund: means the securities restitution assistance fund created by 30-10-1004. See Montana Code 30-10-1003
- 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.
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- 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
(2)(a) The fund consists of amounts received by the commissioner from:
(i)persons who have violated any provision of parts 1 through 3 of this chapter;
(ii)persons who have voluntarily contributed to the fund; and
(iii)a portion of fees collected under 30-10-209(1)(b) as provided in 30-10-209(6)(b).
(b)Amounts received by the commissioner for deposit in the fund do not include administrative penalties or fines imposed under this chapter and as referenced under the Montana Administrative Procedure Act, Title 2, chapter 4, part 6.
(c)The amounts received for the fund may not be placed in the general fund.
(3)Amounts received by the commissioner for deposit in the fund must be promptly turned over to the state treasurer for deposit in the fund created under subsection (1).
(4)The fund may be used by the commissioner only to pay awards of restitution assistance under this part.
(5)Whenever a claimant is paid from the securities restitution assistance fund pursuant to this part, the securities restitution assistance fund is subrogated, to the extent of the payment to the claimant, to the rights of the claimant to any restitution ordered by the court beyond the amount that would make the claimant whole. The commissioner may, on behalf of the securities restitution assistance fund, file any document in a court of competent jurisdiction to enforce this right. (Terminates June 30, 2027–secs. 3, 4, Ch. 404, L. 2021.)