Montana Code 35-15-404. Share exempt from attachment and execution — sale upon death of member
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35-15-404. Share exempt from attachment and execution — sale upon death of member. (1) The share, not exceeding the par value of $500, of each member is exempt from seizure on attachment or sale under execution.
Terms Used In Montana Code 35-15-404
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(2)Upon a member’s death, the share must be sold by the association and the proceeds, after deducting all liabilities to the association, must be delivered to the deceased member’s heirs.