Mont. Code Ann. § 32-1-437
This is the official text of Mont. Code Ann. § 32-1-437, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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32-1-437 Acceptance and issuance of drafts -- rulemaking authority
Official statutory text
32-1-437 . Acceptance and issuance of drafts -- rulemaking authority. (1) A bank organized and existing under the laws of Montana may accept for payment at a future date drafts drawn upon it by its customers authorizing the holders of the drafts to draw drafts upon it or its correspondents at sight or on time if the total amount of drafts accepted for any one person, firm, or corporation does not at any one time exceed 20% of the capital and surplus of the accepting or issuing bank.
(2) The department may adopt rules to implement this section.
(2) The department may adopt rules to implement this section.
Status: in_force · Read it on the official government site
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