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.