Montana Code 53-18-102. Creation of self-sufficiency trust account
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53-18-102. Creation of self-sufficiency trust account. (1) There is created a self-sufficiency trust account in the state treasury. The state treasurer shall deposit to the credit of the trust account money received from a self-sufficiency trust for that purpose. The state treasurer shall direct payments from the trust account upon claims certified by the director of the department.
Terms Used In Montana Code 53-18-102
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Department: means the department of public health and human services provided for in 2-15-2201. See Montana Code 53-18-101
- 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.
- Self-sufficiency trust: means a trust created by a nonprofit corporation that is a 501(c)(3) organization under the Internal Revenue Code, 26 U. See Montana Code 53-18-101
- 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
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(2)The assets of the trust account must be preserved, invested, and expended in the manner and for the purposes provided in 53-18-103. At the end of each fiscal year, the unexpended account balance must carry forward to the next fiscal year and may not revert to the state general fund.