Montana Code 7-6-4002. Definitions
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7-6-4002. Definitions. As used in this part, unless the context requires otherwise, the following definitions apply:
Terms Used In Montana Code 7-6-4002
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Local government: has the meaning provided in 7-6-602. See Montana Code 7-6-4002
(1)”Governing body” means the elected body responsible for the administration of a local government.
(2)”Local government” has the meaning provided in 7-6-602.
(3)”Municipality” means an incorporated city or town.
(4)”Working capital” means the current assets of a fund minus the current liabilities and designated reserves of a fund.