Sections
Part 21 County Housing Authorities § 7-15-2101 – § 7-15-2124
Part 41 General Provisions Related to Municipal Housing and Construction § 7-15-4101 – § 7-15-4126
Part 42 Urban Renewal § 7-15-4201 – § 7-15-4299
Part 43 Urban Renewal Continued § 7-15-4301 – § 7-15-4324
Part 44 Municipal Housing Authorities § 7-15-4401 – § 7-15-4467
Part 45 Municipal Housing Authorities Continued § 7-15-4501 – § 7-15-4532

Terms Used In Montana Code > Title 7 > Chapter 15

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Agency: means each state office, department, division, board, commission, council, committee, institution, university system unit, or other entity or instrumentality of the executive branch, office of the judicial branch, or office of the legislative branch of state government. See Montana Code 5-13-401
  • 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.
  • Appraisal: A determination of property value.
  • Audit services: means financial compliance post audits as required by this chapter. See Montana Code 5-13-401
  • Bequest: Property gifted by will.
  • Devise: To gift property by will.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Ex officio: Literally, by virtue of one's office.
  • 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.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Majority party: means the party with the most members in a house of the legislature, subject to subsection (2). See Montana Code 1-1-208
  • Minority leader: means the leader of the minority party, elected by the caucus as provided in 5-2-221. See Montana Code 1-1-208
  • Minority party: means the party with the second most members in a house of the legislature, subject to subsection (2). See Montana Code 1-1-208
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Personal property: means money, goods, chattels, things in action, and evidences of debt. See Montana Code 1-1-205
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
  • Quorum: The number of legislators that must be present to do business.
  • Real property: means lands, tenements, hereditaments, and possessory title to public lands. See Montana Code 1-1-205
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • 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
  • University system unit: means the board of regents or its units. See Montana Code 5-13-401
  • Willfully: when applied to the intent with which an act is done or omitted, means a purpose or willingness to commit the act or make the omission referred to. See Montana Code 1-1-204