Montana Code 77-1-223. State trust land report to trust beneficiaries and legislature — contents
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77-1-223. State trust land report to trust beneficiaries and legislature — contents. (1) The board shall annually prepare a report on state trust lands that summarizes the land held in trust for each beneficiary by land classification.
Terms Used In Montana Code 77-1-223
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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.
- 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)The report must include the asset value and financial performance of the land held for each beneficiary as calculated using the best available methodology and data.
(3)The board shall provide a copy of the report to the beneficiary of each trust and to the legislature in accordance with 5-11-210 at the end of each fiscal year.