Terms Used In Montana Code > Title 17 > Chapter 5 > Part 11 - Public Obligations Registration

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Authorized officer: means , with respect to any certificated public obligation:

  (i)an individual whose signature to the certificated public obligation is required or permitted; or

  (ii)an individual who may be permitted by an authorized officer, either alone or with the concurrence of another or others, to affix the individual's signature to the certificated public obligation and who is so permitted in writing by the authorized officer with any required concurrence. See Montana Code 17-5-1102

• Certificated public obligation: means an obligation that is:

  (a)issued pursuant to a system of registration;

  (b)represented by an instrument; and

  (c)either one of a class or series or by its terms is divisible into a class or series of obligations. See Montana Code 17-5-1102

• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Facsimile seal: means the reproduction by engraving, imprinting, stamping, or other means of the seal of the issuer, official, or official body. See Montana Code 17-5-1102
• Facsimile signature: means the reproduction by engraving, imprinting, stamping, or other means of the manual signature of an authorized officer. See Montana Code 17-5-1102
• Financial intermediary: means a bank, broker, clearing corporation, or trust company or the nominee of any of them or other person or nominee that in the ordinary course of its business maintains public obligation accounts for its customers. See Montana Code 17-5-1102
• Internal Revenue Code: has the meaning provided in 15-30-2101. See Montana Code 17-5-1102
• Issuer: means a public entity that:

  (a)executes a certificated public obligation to evidence its duty to perform an obligation represented by the certificated public obligation;

  (b)undertakes to perform an obligation that is an uncertificated public obligation; or

  (c)becomes responsible for or in place of a public entity described as an issuer in this subsection (7). See Montana Code 17-5-1102

• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Obligation: means an agreement of an issuer to pay principal and interest and includes a share, participation, or other interest in the agreement. See Montana Code 17-5-1102
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Official actions: means the actions by statute, order, ordinance, resolution, contract, or other authorized means by which the issuer provides for issuance of a public obligation. See Montana Code 17-5-1102
• Official or official body: means :

  (a)the officer or body that is empowered under the laws of one or more states, including this state, to provide for original issuance of a public obligation of the issuer by defining the obligation and its terms, conditions, and other incidents;

  (b)the successor or successors of the official or official body; and

  (c)any other person or group of persons who are assigned duties of the official or official body under applicable law. See Montana Code 17-5-1102

• Original issuance: means the first transfer of a public obligation by an issuer to a purchaser. See Montana Code 17-5-1102
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Public entity: means any entity, department, or agency that is empowered under the laws of one or more states, including this state, to issue obligations, any interest with respect to which may under any provision of law be provided an exemption from the income tax referred to in the Internal Revenue Code. See Montana Code 17-5-1102
• Public obligation: means either a certificated or an uncertificated public obligation. See Montana Code 17-5-1102
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Several: means two or more. See Montana Code 1-1-201
• 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
• Statute: A law passed by a legislature.
• Trustee: A person or institution holding and administering property in trust.
• Uncertificated public obligation: means an obligation that is:

  (a)issued pursuant to a system of registration;

  (b)not represented by an instrument; and

  (c)either one of a class or series or by its terms divisible into a class or series of obligations. See Montana Code 17-5-1102

• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Writing: includes printing. See Montana Code 1-1-203